Karachi: The KSE-100 index experienced a volatile trading day, initially opening strong but eventually closing with a loss of 230 points, settling at 78,571 points. The session was marked by significant fluctuations in trading volumes and index movements.

According to AKD Securities Limited, the day’s trading saw the index post a high of 359 points above its opening, but a low point saw it down by 248 points. Overall, the session ended with a decrease in trading volume by 29% compared to the previous session, indicating a shift in market dynamics. The technical analysis shows that the index closed below the upper Bollinger Band by 25.6%, with Bollinger Bands being 66.51% narrower than usual, suggesting a period of lower volatility compared to the index’s normal range.

The chart analysis indicates that the KSE-100 may find initial support near 78,500 points. If it breaks below this level, it could see further declines towards 78,100 and 77,800 points. Conversely, resistance is expected near 79,100 points, with potential to move higher towards 79,400 and 79,800 points. Traders are advised to consider buying near the support zone with clearly defined risks.