FLASHNEWS:

KSE-100 Closes Above 73,000 Amidst Strong Trading Volume

Karachi, In a buoyant trading session, the KSE-100 index closed at 73,086 points, marking an increase of 427 points. The session witnessed robust trading activity, with volumes significantly higher than the previous session.

According to AKD Securities Limited, the KSE-100 index started the session on a positive note and remained bullish, peaking with a 791-point gain before settling. The Relative Strength Index (RSI) is currently at 71.00, indicating a near overbought condition, which generally suggests that the market may be due for a pullback. However, the daily parabolic Stop and Reverse (SAR) indicator is positioned below the current index level, signaling a continued positive trend.

The technical analysis suggests that the index may encounter initial resistance at 73,500 points, with further resistance possible near the 73,800 and 74,000 points mark. On the downside, support is expected near 72,500 points, with a fall below this level possibly leading to further declines towards 72,200 and 71,800 points. Investors are advised to accumulate positions near these support levels.

The report also includes a glossary of terms to aid investors in understanding key technical analysis concepts such as support, resistance, and various indicators used in the report. AKD Research emphasizes the importance of individual investment strategies and advises consultation with financial advisors to tailor investment approaches as per personal financial goals.