Karachi: The KSE-100 Index closed 546 points higher at 176,094, maintaining its position above the 50-day Simple Moving Average (SMA) despite a decrease in trading volumes by approximately 5% from the previous session. The index reached an intraday high of 1,560 points, continuing its bullish momentum throughout the trading day.

According to AKD Securities Limited, the market has seen three bullish and seven bearish candles over the last ten trading sessions, leading to a net of four negative closes. The Relative Strength Index (RSI) is at 48.91, indicating balanced market momentum as it hovers just below the neutral threshold. The index remains above the 50-SMA, currently at 175,536, suggesting a constructive broader trend amidst recent volatility.

The technical analysis indicates immediate support at 175,500, with potential declines extending to 174,200 and 173,500 if breached. Resistance levels are projected at 178,000, followed by 179,100 and 180,000. The recommendation is to accumulate positions with risk defined below the support zone.