Karachi: The KSE-100 index experienced a highly volatile trading session, initially surging before ultimately closing down by 578 points at 90,287. The session saw the index reach an intraday high of 1,009 points and a low of 861 points, with trading volumes declining by 6% compared to the previous session. An Engulfing Bearish candle pattern was observed, signaling potential further declines after a net gain of two green candles over the past ten sessions.

According to AKD Securities Limited, the Relative Strength Index (RSI) currently stands at 79.10, reflecting strong recent momentum but indicating potential overbought conditions. Technical indicators suggest initial support for the index near 89,800, with a potential drop to 89,400 and 89,000 if this level is breached. Resistance is anticipated at 90,500, with additional resistance targets at 91,000 and 91,400. Investors are advised to reduce long positions during upward movements and wait for sustained trading above the resistance zone before resuming.