Karachi: KSE-100 Index witnessed a bearish trend during the last trading session, closing with a 178-point loss at 81,114, marking a close below the 10-session moving average (SMA). The trading volume decreased by 24% compared to the previous session, reflecting a downturn in market activity.

According to AKD Securities Limited, the Moving Average Convergence Divergence (MACD) remains bullish, trading above its signal line since it crossed 26 trading sessions ago. Despite the bearish session, the index has seen an overall increase of 2.95% since the MACD crossover, with fluctuations ranging from 77,990 to 82,906. The technical analysis suggests that the KSE-100 may find initial support around the 80,800 level, with potential further declines towards the 80,000 point level if this support breaks. Resistance is expected near 81,500 points, with possibilities to rise towards 82,200 points. AKD Securities recommends initiating buying positions with clearly defined risks below the support zone.

RSI and Stochastic indicators also provide insights into potential buying and selling ranges for key scrips, indicating significant levels of potential resistance and support that could inform investor decisions in upcoming sessions.