Karachi: The KSE-100 Index experienced a volatile trading session, opening on a positive note before reaching an intraday high of 2,027 points. It ultimately closed 1,218 points higher at 169,392, although market participation weakened significantly with trading volumes dropping by approximately 40% compared to the prior session.

According to AKD Securities Limited, the market's recent performance has been mixed, with the index recording three bullish candles against seven bearish ones over the past ten trading sessions. The MACD indicator remains bearish, having crossed below its signal line 18 periods ago, leading to a 4.22% decline in the index. The index has fluctuated between a high of 178,942 and a low of 166,141 during this period. Trend-forecasting oscillators also continue to reflect a bearish sentiment, consistent over the last five sessions.

In technical analysis, immediate support is identified at 168,800, with further potential declines extending towards 167,500 and 166,700 if this level is breached. Resistance levels are expected around 170,100, followed by 170,800 and 171,500. Analysts recommend a cautious trading approach, advising market participants to consider accumulating positions on dips, with clearly defined risk below the support zone.