Karachi: The KSE-100 Index experienced a turbulent trading session, swinging between gains and losses before closing down by 254 points at 121,971. The session began with a modest upward trend but was unable to maintain its momentum amid geopolitical tensions. The index recorded a peak of 666 points and a trough of 410 points during intraday trading.

Trading volume saw a modest increase of 12% compared to the previous day, suggesting a slight uptick in market activity. Despite the day's downturn, the Moving Average Convergence Divergence (MACD) indicator remains in a bullish position, having stayed above its signal line for 22 consecutive sessions. Since the bullish crossover, the index has appreciated by 2.86%, fluctuating between a high of 126,718 and a low of 116,860.

Current technical analysis indicates that the index's immediate support level is at 121,800, with further declines possible if breached, potentially reaching 121,300 and 120,600. Resistance is anticipated around 122,500, with potential upward targets of 123,200 and 123,800. Analysts recommend a cautious trading approach, advising investors to consider accumulating positions at moments of weakness, with clearly defined risk management below the support zone.

The market's volatility is expected to persist, influenced by ongoing geopolitical developments, prompting traders to remain vigilant and strategic in their investment decisions.