Karachi: In a remarkable display of market strength, the KSE-100 index closed at an all-time high of 86,206, marking a significant 365-point gain during the last trading session. The session began on a positive note and maintained a bullish momentum, culminating in a high of 673 points. Trading volumes increased by 3% compared to the previous session, indicating robust investor engagement.

According to AKD Securities Limited, the KSE-100 index has been showing a strong performance over the past 10 trading sessions, with 7 green candles and 3 red candles, reflecting a net of 4 white candles. The Moving Average Convergence Divergence (MACD) is currently bullish, trading above its signal line. Since crossing its moving average, the local bourse has seen an increase of 9.41%.

The technical analysis suggests that the index might initially find support near 85,800 points. If it breaks below this level, it could see further declines toward the 85,500 and 85,100 points levels. Conversely, resistance might be encountered near 86,500 points, potentially pushing the index towards higher targets at 86,800 and 87,400 points. AKD Securities advises traders to initiate buying positions with a defined risk below the support zone.

In terms of individual stocks, OGDC, PPL, PSO, SNGP, and MLCF are among the recommended buys with specified target prices and stop losses, indicating a bullish outlook for these securities. Conversely, stocks like ENGRO, TPLP, GGL, CNERGY, and ANL have been marked for selling within specified ranges.