Karachi: The index opened strong but experienced volatility throughout the last session, reaching a peak of 663 points and a low of 413 points, ultimately closing at 92,021 with a loss of 283 points. Trading volumes increased significantly by 30% compared to the previous session.

According to AKD Securities Limited, the MACD, a trend-following momentum indicator, is currently bullish as it trades above its signal line, having crossed it 53 trading sessions ago. Since this crossover, the index has seen an increase of 16.79%, fluctuating between a high of 92,967 and a low of 77,990. The Relative Strength Index (RSI), another momentum indicator, is showing a reading of 74.82.

The chart analysis suggests that initial support can be found near the 91,600 mark. A decline below this level could lead to further weakness, targeting the 91,200 and 90,800-point levels. On the upside, the index is likely to face initial resistance around 92,500, with further resistance expected at 93,000 and 93,500. Market participants are advised to consider accumulating positions near the support zone and to focus on profit-taking strategies.