Karachi, The Karachi Stock Exchange-100 index closed above the 72,000 mark after a bullish trading session. Opening on a positive note, the local bourse experienced a surge, posting a high of 1,055 points and concluding with a gain of 693 points, settling at 72,052 points. Despite lower volumes compared to the previous session, the index exhibited a white body candle, with six white candles and four black candles over the past ten trading sessions, signaling a net of two white candles. Closing below the upper band by 11.7%, Bollinger Bands indicated a wider-than-normal range, suggesting heightened volatility. Technical analysis indicates potential support levels near 71,700, with further weakness expected below this mark. Conversely, resistance levels are anticipated near 72,500 initially, with subsequent targets at 72,800 and 73,200. Investors are advised to trade cautiously and focus on profit-taking strategies.

According to AKD Securities Limited, the Karachi Stock Exchange's performance reflects the market's current dynamics and suggests potential opportunities amid ongoing volatility. The release provided insights into various technical indicators such as Support, Resistance, Relative Strength Index (RSI), Bollinger Bands, Moving Average Convergence Divergence (MACD), Exponential Moving Average (EMA), Simple Moving Average (SMA), and the Parabolic SAR, offering a comprehensive analysis of market trends and potential trading strategies.