Karachi: The KSE-100 Index experienced a turbulent trading session, opening on a negative note and remaining under pressure throughout the day. The index reached an intraday low of 1,533 points before closing 1,464 points lower at 179,847. Trading volumes saw a 15% decline compared to the previous session, indicating weakened market participation.

According to AKD Securities Limited, the Moving Average Convergence Divergence (MACD) indicator has maintained a bullish position, staying above its signal line after a positive crossover four sessions ago. Despite this, the KSE-100 has shown little change, with a marginal decline of 0.09%, trading within a range of 178,512 to 182,348. The index is currently 25.8% below its upper Bollinger Band, and the bands themselves are 34.54% narrower than usual, suggesting low volatility and the potential for a breakout if market activity increases.

From a technical standpoint, immediate support is identified at 179,500, with a possible extension of the decline towards 178,800 and 177,600 if breached. Resistance levels are anticipated around 181,100, followed by 182,000 and 183,100. It is advised to accumulate positions with risk management strategies below the support zone.