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AKD Securities Equity Research – Pakistan weekly update

Karachi, October 04, 2012 (PPI-OT): Nearing The Short-Term Target

Extending gains for the fourth consecutive session, the benchmark KSE advanced 0.41% yesterday to settle at 15712 level (record high).

According to AKD Securities, volume decreased 22.19% to 75.01 million shares against 96.4 million shares traded a day earlier.

Short-term stance remains mildly positive on the index supported by an upwards peak and trough progression. AKD Securities continues to scope for 15780~15900 area, with risk defined below 15321 level. However, negative divergence on both momentum and volume cast doubts over sustainability of the bull-trend, therefore investors are advised to secure profits at strength towards the upper-boundary of mentioned range, and wait for fresh signals.

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