Karachi: The KSE-100 index experienced a significant surge, closing with a gain of 559 points at 145,647. This upward movement was achieved despite a 15% decrease in trading volumes compared to the previous session. The index reached an intraday high of 993 points, highlighting strong market activity.

The Moving Average Convergence Divergence (MACD) indicator remains above its signal line, suggesting a bullish trend. This follows a recent crossover that has seen the index increase by 0.39%, with fluctuations recorded between a high of 146,081 and a low of 143,409. Additionally, the Relative Strength Index (RSI) is at 81.74, which signals an overbought market condition.

Technical charts show that the index has immediate support at 145,300. If this level is breached, the index could see further declines toward 144,800 and 144,300. Conversely, resistance is anticipated around 146,100, with potential targets at 146,500 and 146,900.

Traders are advised to adopt a cautious strategy, accumulating positions near the defined support zone with risk management strategies in place below this level.