Karachi: The Karachi Stock Exchange KSE-100 index recorded a fresh high on Monday, signaling continued bullish trends in the market. The session ended with the index gaining a significant 1,484 points, closing at 81,156 points. Trading volumes were slightly higher than the previous session, with 441 million shares exchanged.

According to AKD Securities Limited, the KSE-100 index showcased strong upward momentum, indicating the possibility of a runaway gap which usually signifies a continuation of the current trend. Currently, the index is 25.8% above its 200-period moving average, highlighting an ongoing upward trajectory. Market volatility remains high compared to the average over the last ten trading sessions.

Technical indicators suggest a bullish stance has been maintained for the last 17 trading sessions, with momentum oscillators now indicating that the index is in an overbought condition. Initial support for the index is pegged near 80,900 points, with further support at 80,600 and 80,100 points should there be a break below. On the upside, resistance is expected around 81,500 points, potentially extending towards 82,000 and 82,500 points.

Investors are advised to trade with caution and consider accumulating positions near support zones to capitalize on potential upward movements.