Karachi: The KSE-100 index closed above the 21-day simple moving average (SMA), marking an upward trend as it gained 1,457 points to settle at 167,193. This rise was accompanied by a significant increase in market participation, with trading volumes nearly doubling, surging by approximately 99% from the previous session.

According to AKD Securities Limited, over the past 10 trading sessions, the index has recorded six positive closes and four negative ones, leaving a net balance of two positive closes. The KSE-100 index remains 29.8% below the upper Bollinger Band, with the bands 61.49% narrower than usual, indicating lower volatility within the index's historical range. This narrow band formation has persisted for 23 consecutive periods, suggesting an increased potential for a significant price move as the market consolidation continues.

From a technical standpoint, immediate support is identified at 166,800, and any breach below this level could lead to further declines toward 166,300 and 165,500. Conversely, resistance levels are expected at 167,800, followed by 168,100 and 168,500. Market participants are advised to consider accumulating positions during dips, with risk management defined below the support zone.