Karachi, The KSE-100 index faced significant fluctuations in its last trading session, opening on a negative note and remaining volatile throughout the day. The index posted a high of 242 points but dipped to a low of 446 points before settling with a loss of 150 points at 70,333 points. The trading volume was slightly higher compared to the previous session, indicating a cautious but active trading environment.

According to AKD Securities Limited, the KSE-100 index closed below the upper Bollinger Band by 10.8%, with the bands being 37.26% wider than normal, signaling potential volatility ahead. The session concluded with a black candle on the chart, indicating that the index closed lower than it opened. Over the past ten trading sessions, the index had six white candles and four black candles, resulting in a net of two white candles, showing a mix of positive and negative trading days.

The technical outlook suggests that the index may find initial support near 70,100 points. A break below this level could lead to further weakness towards 69,700 and 69,300 points. Conversely, resistance is likely near 70,700 points, with potential to push towards 71,100 and 71,500 points if overcome. Traders are advised to maintain a cautious approach and focus on profit taking.

The various technical indicators used in the analysis include RSI, Bollinger Bands, MACD, EMA, and SMA, among others, providing a comprehensive view of the market conditions. These tools are intended to assist traders in making informed decisions based on the current market trends and potential future movements.