Karachi: The KSE-100 index continued its upward trajectory in the latest trading session, achieving an all-time high. Opening on a strong positive note, the index surged to a peak of 1,516 points before closing the day with a significant gain of 1,378 points, settling at 84,910.

According to AKD Securities Limited, trading volumes saw a sharp increase of 62% compared to the previous session, which contributed to the index closing above the upper band by 7.4%. Despite the index trading above its typical range, suggesting a possible upward breakout, the more likely scenario anticipated by analysts is a continuation of the current trading range.

The technical analysis indicates that the index may find initial support near the 84,600 mark. A break below this level could lead to further declines towards 84,100 and 83,700 points. Conversely, initial resistance is seen near 85,000 points, with potential to extend gains towards the 85,500 and 86,000 areas. Investors are advised to consider initiating buy positions with a risk strategy defined below the support zone.