Karachi, In the latest trading session, the KSE-100 index experienced a volatile day, starting slightly positive and maintaining fluctuations throughout. The index reached a peak gain of 739 points and concluded with an overall increase of 335 points, ending at 78,276 points. This session marked a higher trading volume compared to the previous session, signaling active market participation.
According to AKD Securities Limited, the index's technical indicators suggest a cautiously optimistic outlook. The Relative Strength Index (RSI) stands at 67.68, nearing the upper threshold of 70, which often signals an overbought condition. However, the MACD (Moving Average Convergence Divergence) histogram is currently positive, indicating potential further gains. The daily Parabolic SAR remains below the current index level, supporting the ongoing upward trend.
Market strategists at AKD Research recommend traders adopt a cautious trading strategy. Key support for the index is identified near 78,000 points, with potential further declines towards 77,800 and 77,500 points if this level breaks. On the upside, initial resistance is seen around 78,500 points, with further resistance expected at 78,900 and 79,400 points. Investors are advised to accumulate positions near support levels and take profits near resistance zones to capitalize on the market's current dynamics.