Karachi: The KSE-100 index witnessed a bullish trading session, reaching significant highs before closing at 103,257 points, marking an increase of 1,918 points. Trading volumes surged by 53% compared to the previous session, indicating strong market activity and investor interest.

According to AKD Securities Limited, the index is currently 33.4% above its 200-period moving average, signaling an upward trend. However, volatility remains high compared to the average over the last 10 periods, though there is a possibility of stabilization in the near term. Volume indicators continue to show robust flows into the index, while trend forecasting oscillators have maintained a bullish outlook for the past 62 trading sessions.

The technical chart suggests initial support near the 102,800-point level, with potential weaknesses leading to further drops at 102,300 and 101,800 points. On the upside, the index may face resistance around 103,800 points, with further targets at 104,300 and 105,100 points. Market participants are advised to proceed with caution and consider employing a stop-loss strategy.