Karachi: In the latest trading session, the KSE-100 index experienced significant growth, culminating in a record-setting close. The index surged by 681 points, finishing at an all-time high of 80,234 points. This bullish trend was accompanied by an increase in trading volume, which escalated from the previous session's 413 million shares to 537 million.
According to AKD Securities Limited, the index opened on a strong note and maintained its upward trajectory throughout the session. Technical indicators highlight a robust outlook, with the Relative Strength Index (RSI) registering at 74.61, suggesting strong buying momentum. The daily parabolic Stop and Reverse (SAR) also indicates continued upward potential, positioned below the current index level. Furthermore, the KSE-100 is performing well above key moving averages, reinforcing a positive short-term outlook.
The technical analysis suggests that the KSE-100 may find initial support near 79,800 points, with potential fallbacks to 79,500 and 79,100 should it dip below this threshold. On the upside, resistance is expected around 80,500 points, with possible extensions towards 80,900 and 81,400 points. Investors are advised to adopt a cautious trading strategy, focusing on accumulation near support levels with clearly defined risks.