Karachi: The index opened strongly and remained volatile throughout the last session, peaking at 223 points, a low of 755 points before closing at 93,225 with a loss of 424 points. Trading volumes decreased by 13% compared to the previous session. The Index closed below the upper band by 18.6%. Bollinger Bands are 99.35% wider than normal. The large width of the bands suggest high volatility as compared to the normal range. The probability of volatility decreasing and the local bourse could enter into a trading range has increased for the near-term.

According to AKD Securities Limited, the chart indicates that initial support could be found near 92,800. A break below this level may lead to further weakness towards the 92,500 and 92,200-point levels. Conversely, the index may encounter resistance initially around 93,600, with further targets at 94,000 and 94,600. It's advisable to focus on profit taking.