Karachi: The KSE-100 index exhibited significant volatility during the recent trading session, opening with a positive note but experiencing fluctuations throughout. Despite an intraday decline of 824 points, the index closed 155 points higher at 166,564. Trading volumes saw a notable decrease of approximately 23% compared to the previous session.

According to AKD Securities Limited, the MACD indicator points to continued bullish momentum, with the index trading above its signal line following an upward crossover two periods ago. This crossover has contributed to a 0.50% gain in the KSE-100, which has fluctuated between a high of 167,483 and a low of 164,356. The index remains above the 21-day Simple Moving Average (SMA), which is currently at 165,815. The Relative Strength Index (RSI) stands at 48.69, slightly under the neutral 50 mark.

Technical analysis suggests immediate support for the index at 166,300, with potential decline targets at 165,500 and 165,000 if breached. Resistance levels are projected around 167,300, followed by 167,800 and 168,500. Investors are advised to consider accumulating positions during market dips, with risk management strategies in place below the support zone.