Karachi: The KSE-100 Index experienced a significant rise, opening on a positive note and maintaining its upward trajectory throughout the trading session. It reached an intraday high of 1,360 points before closing 830 points higher at 172,233. Market participation saw a notable increase, with trading volumes surging by approximately 123% compared to the previous session.

According to AKD Securities Limited, the technical outlook over the past ten trading sessions reveals a pattern of six bullish candles against four bearish candles, resulting in a net count of two bullish candles, indicating a positive underlying bias. The Moving Average Convergence Divergence (MACD) indicator remains bullish, trading above its signal line, with a bullish crossover occurring one session ago. Since then, the KSE-100 has gained 0.48%, fluctuating between 172,762 and 170,867, with the 200-SMA positioned at 172,333.

Technically, immediate support is identified at 171,800, with a breach potentially extending the decline toward 171,100 and 170,500. On the upside, resistance is anticipated around 172,800, followed by levels at 173,500 and 174,000. Traders are advised to accumulate positions with risk management strategies below the support zone.