Karachi: The KSE-100 Index concluded a turbulent trading day by closing 1,778 points lower at 171,116, despite opening on a negative note and experiencing pressure throughout the session. The market saw a slight increase in trading volumes, approximately 1% higher than the previous session.

According to AKD Securities Limited, the index hit an intraday low of 2,501 points and remains 33.2% below the upper Bollinger Band, with the bands being 13.73% narrower than usual. The Moving Average Convergence Divergence (MACD) indicator has shifted to a bullish stance, crossing above its signal line, which suggests a potential improvement in market momentum. Over the past ten trading sessions, the market has recorded a balanced number of bullish and bearish candles, with five positive and five negative closes.

Technically, the index faces immediate support at 170,200, with a potential decline toward 169,400 and 168,400 if breached. Resistance levels are anticipated around 172,200, followed by 173,150 and 174,000. Market participants are advised to consider building positions during periods of weakness, with risks clearly defined below the support zone.