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.