Karachi: The KSE-100 index demonstrated significant volatility in its latest session, ultimately closing with a robust gain of 366 points, ending at 79,018 points. The market saw a slight dip in trading volumes compared to the previous session but maintained a positive trajectory above major moving averages, suggesting potential for further gains.

According to AKD Securities Limited, the KSE-100 started the day on a positive note, reaching a peak of 566 points before stabilizing. The index currently holds above both major and minor daily moving averages, with the Relative Strength Index (RSI) positioned above the neutral threshold at 55.53, indicating continued upward momentum. The chart analysis suggests that the index might encounter initial support near 78,800, with further fallback points at 78,500 and 78,200 if declines occur. Conversely, resistance is anticipated near 79,500, with potential targets extending up to 79,800 and 80,200 if upward movements persist. Market participants are advised to adopt a ‘buy on weakness’ strategy, capitalizing on dips within these defined risk parameters.

The technical outlook is further reinforced by specific stock recommendations, where buying opportunities near support levels are highlighted for stocks like OGDC, PAEL, and DGKC, among others. Each recommendation includes defined target prices and stop-loss points to manage risk effectively. Additionally, selling strategies on strength are advised for certain stocks, suggesting a balanced approach to trading in the current market environment.