Karachi: The KSE-100 index experienced a volatile trading session, opening strongly before fluctuating throughout the day. The index reached a peak of 579 points and hit a low of 282 points before closing at 93,355, marking a gain of 131 points. Trading volumes saw a significant decrease, falling by 28% compared to the previous session.

According to AKD Securities Limited, the past ten trading sessions have shown an equal mix of gains and losses, with 5 green candles and 5 red candles. The momentum oscillator, Relative Strength Index (RSI), is currently at a reading of 75.57, indicating a strong momentum. Additionally, the daily parabolic SAR (Stop & Reverse) is positioned below the current level of the index, suggesting a potential upward trend.

The technical chart analysis suggests initial support for the index around the 92,800-point level. Should the index break below this support, it could face further declines towards the 92,500 and 92,200-point levels. Conversely, resistance is anticipated initially at 93,600 points, with further resistance targets at 94,000 and 94,600 points. Investors are advised to focus on profit-taking amidst the current market conditions.