Karachi, The KSE-100 index, a barometer for the Pakistani stock market, continued its bullish trajectory in the last trading sessions, achieving a high of 465 points and closing with a gain of 229 points at 65,732 points. The market volume increased compared to the previous session, highlighting a growing investor interest in the market. Technical analysis reveals a mixed pattern of trading activity over the past 10 sessions, with a slight predominance of bearish trends.
According to AKD Securities Limited, the KSE-100 index exhibited a positive opening and sustained its bullish momentum throughout the recent sessions. The index is expected to find initial support near the 65,500 points mark. Should it break below this level, the index might face further declines towards 65,200 and 64,800 points. On the flip side, resistance is anticipated around 66,000 points, with potential upward movements aiming for the 66,400 and 66,800 points areas. The Relative Strength Indicator (RSI) currently stands at 60.72, suggesting a cautiously optimistic outlook for the market. Investors are advised to adopt a strategy of accumulating positions near the support zones with a well-defined risk management plan below these levels.
The analysis provided by AKD Research includes a glossary of terms to aid investors in understanding the technical indicators influencing the market's movement. These include concepts such as support and resistance levels, RSI, Bollinger Bands, MACD, EMA, SMA, and the parabolic SAR, each offering insights into market trends and potential investment strategies. The disclaimer section of the report emphasizes that the information provided does not constitute an offer to transact in any securities and is intended for personal information only. AKD Securities Limited, the report's issuer, encourages investors to seek individual financial advice tailored to their specific investment objectives and financial situation.
This detailed outlook on the KSE-100 index underscores the importance of cautious trading and informed decision-making in the face of market volatility. As the Pakistani stock market continues to navigate through uncertain economic times, investors are reminded of the value of strategic planning and risk assessment in pursuing potential gains.