Karachi: The KSE-100 Index continued its upward trajectory, closing with a significant gain of 1,647 points at 171,961, after reaching an intraday high of 1,935 points. Despite the robust performance, investor participation saw a decline, as trading volumes dropped by 10% from the previous session.

The technical analysis reveals the index ended the day 11.1% below the upper Bollinger Band, with the bands themselves 3.36% wider than usual. The Moving Average Convergence Divergence (MACD) remains in a bullish position, having crossed above its signal line 22 sessions ago. Since then, the index has risen by 6.85%, fluctuating between an upper range of 172,249 and a lower range of 160,565.

Immediate technical support is identified at 171,500, with a potential decline extending towards 170,800 if this level is breached. Resistance is anticipated around 172,500, followed by 173,100. Analysts suggest investors consider accumulating positions during periods of weakness, with caution exercised below the support zone.

The ongoing bullish momentum and technical indicators point towards a continued positive outlook for the KSE-100 Index, although the market's volatility remains a factor for investors to monitor closely.