Karachi: The KSE-100 index demonstrated a bullish performance in its last trading session, opening strong and peaking at a high of 673 points. It concluded the day with a gain of 499 points, closing at 92,520. However, trading volumes saw a decline of 14% from the previous session. Notably, the index closed 12.7% below the upper band, with the Bollinger Bands being 93.63% wider than usual, indicating heightened volatility.

According to AKD Securities Limited, the unusually wide range of the Bollinger Bands suggests a higher probability of reduced volatility in the near-term, potentially leading to the local bourse entering a trading range. The bands have maintained this wide state for the past 12 sessions, suggesting an ongoing period of significant market activity.

The technical chart analysis indicates initial support for the index at approximately 92,000 points. A breach below this level could trigger further declines toward 91,500 and 91,200 points. On the upside, the index may face resistance around 92,800, with subsequent targets at 93,000 and 93,500 points. Investors are advised to consider accumulating positions near the support zone while also focusing on profit-taking strategies.