Karachi: The KSE-100 index demonstrated resilience on a volatile trading day, ultimately closing in positive territory. The index started on a weak note, experiencing significant fluctuations throughout the session, and recorded an intraday low of 1,128 points and a high of 977 points. It concluded the day with a gain of 808 points, settling at 114,872.

Trading volumes saw a slight decline, down by 2% compared to the previous session. The index remains above its 100-day Simple Moving Average (SMA), a critical technical indicator. The Relative Strength Index (RSI) stands at 45.62, suggesting continued weakness as it lingers below the neutral threshold. The daily Parabolic SAR is positioned below the current index level, indicating a bullish sentiment.

On the technical front, immediate support is identified at 114,300. Should this level be breached, the index could potentially decline further to 113,800 and 113,300. Conversely, resistance is anticipated around 115,200, with further potential targets at 116,000 and 116,500. Analysts advise approaching trades cautiously and utilizing stop loss strategies below the support zone.