Karachi: The KSE-100 index experienced a volatile trading day, closing 249 points higher at 171,402, despite a decline in market participation. The index reached an intraday high of 528 points and a low of 286 points, with trading volumes decreasing by approximately 24% compared to the previous session.

According to AKD Securities Limited, the technical analysis revealed that the KSE-100 closed 39.2% above the lower Bollinger Band, with the bands being 25.36% narrower than usual, indicating lower volatility. The MACD indicator turned bullish, having crossed above its signal line during the previous session. The index traded between 171,681 and 170,867 following this bullish crossover. The RSI showed a new 14-period high, while the index has yet to reach a corresponding high, suggesting a potential divergence.

Immediate support for the index is observed at 170,800, with further declines possible toward 170,200 and 169,500 if breached. Resistance levels are anticipated at 172,000, followed by 172,800 and 174,000. Trading strategies suggest accumulating positions with risks managed below the support zone.