Karachi: The KSE-100 index demonstrated a strong performance in the latest trading session, maintaining an upward trajectory throughout the day. The index peaked at 994 points before closing at 93,292, marking a gain of 771 points. Trading volumes saw an increase of 12% compared to the previous session, signaling sustained investor interest.

According to AKD Securities Limited, the index remains positioned 24.8% above its 200-day moving average, indicating a continued upward trend characterized by higher-than-average volatility over the last 10 periods. Volume indicators have shown robust buying interest, reflecting a strong bullish sentiment in the market. Trend forecasting tools have remained bullish for 46 sessions, although momentum indicators suggest the market may currently be in an overbought zone.

The chart analysis suggests that initial support for the index could be found near 92,800 points. A decline below this level might lead to further weakness towards the 92,500 and 92,200-point levels. On the upside, the index could face initial resistance around 93,550 points, with further targets at 94,000 and 94,600 points. Market participants are advised to consider accumulating positions near the support zone while also focusing on profit-taking strategies.