ID :
190498
Wed, 06/22/2011 - 16:40
Auther :
Shortlink :
http://m.oananews.org//node/190498
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AKD Securities Equity Research - Pakistan weekly update
The benchmark KSE registered a strong rebound yesterday, gaining 1.32 percent, or 160.16 points to settle at 12326.14 level -cumulatively 107 points contributed by NESTLE, OGDC, FFC, POL and MCB.
According to AKD Securities, volume improved a little to 45.46mn shares against 39.29mn shares exchanged a day earlier.
After completing the 50 percent retracement of recent rise from 11840 to 12435 at 12137 level, placed just above the 12100~12125 breakout area (risk/support), the index sharply regained its minor average (15-DMA) forming a bullish Harami candlestick pattern. Confirmation today would provide the needed proof that the correction is over. In immediate term, recovery through 12406~12435 would instil bullishness towards 12569~12596 level. Supports are placed at 12289 and 12195 points.
According to AKD Securities, volume improved a little to 45.46mn shares against 39.29mn shares exchanged a day earlier.
After completing the 50 percent retracement of recent rise from 11840 to 12435 at 12137 level, placed just above the 12100~12125 breakout area (risk/support), the index sharply regained its minor average (15-DMA) forming a bullish Harami candlestick pattern. Confirmation today would provide the needed proof that the correction is over. In immediate term, recovery through 12406~12435 would instil bullishness towards 12569~12596 level. Supports are placed at 12289 and 12195 points.
