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AKD Securities Equity Research – Pakistan weekly update

Karachi: Relief suspected towards 11510~11550 atop 11070

The benchmark KSE gained 0.61 percent yesterday to close at 11233.75 level, while having a turnover of 22.75mn shares against 15.89mn shares traded a session earlier.

According to AKD Securities, subjected to closing location above 11070, AKD Securities continues to suspect a temporary relief (pullback) towards 11510~11550 area. However, the near-term profile remains corrective under 11860. A relapse below 11070 would invoke pressure to 10790. Traders already long on the index are suggested to reduce exposure at strength to 11550.

LUCK (72.42): Suspect a move towards 76.12. Above there, eye 78.23~ 80.34. Supports at 71.90 and 70.59. Risk 69.29.

POL (348.44): Recovery is sighting 354.70. Further extension would focus 363.8. Supports at 336.50 and 330.87. Stop 325.25.

MCB (174.23): Move expected towards 182.16. Additional strength would eye 187 and 191.84. Supports at 172.49 and 169.50.Vulnerable below 166.51

NBP (45.57): Minor target achieved at 46.05. Could stretch further towards 46.74~47.38. Support in 44.80~44.40. Risk 44.




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