Karachi: KSE-100 index experienced a bearish session as it opened positively but remained volatile, concluding with a significant loss. The local bourse recorded a high of 220 points and a low of 675 points before settling down 635 points at 78,652. Trading volumes increased by 21% compared to the previous session, indicating heightened market activity. The index closed below the upper Bollinger band by 36.9%, with the bands being 73.57% narrower than usual, suggesting a potential increase in volatility.

According to AKD Securities Limited, the KSE-100 index’s chart formation indicates possible initial support near 78,500 points. A failure to hold this level could lead to further declines towards 78,200 and 77,800 points. Conversely, resistance might be encountered near 78,900 points, with potential to move up to 79,200 and 79,500 points. Analysts recommend buying near the support zone, setting a defined risk below it. The market’s technical outlook, supplemented by indicators like RSI and Stochastic, supports this strategy, pointing towards a volatile trading environment ahead.