Karachi: The KSE-100 Index experienced a day of volatility, initially rising by 941 points before closing with a gain of 254 points at 113,342. Trading volumes increased by 32% compared to the previous session, indicating heightened market activity.

According to a statement by AKD Securities Limited, despite the positive movement, the MACD indicator remains in negative territory, suggesting caution. The Index has seen a 6.65% increase recently, fluctuating within a range that has it closing 34.6% below the upper Bollinger Band. The bands are noted to be 39.35% narrower than usual, which analysts say points to continued range-bound trading for now.

The technical analysis highlights critical support near the 113,000 mark. A decline below this level could lead to further drops toward 112,500 and 111,800. Resistance is identified at 113,600, with potential upward targets at 114,000 and 114,500. The recommendation is to consider accumulating positions near support levels, with clear risk definitions below these zones.