Karachi: The KSE-100 Index experienced continued pressure in the latest trading session, closing 2,288 points lower at 165,867 after opening on a negative note. Despite the downturn, market participation showed signs of improvement, with trading volumes increasing by approximately 15% compared to the previous session.

According to AKD Securities Limited, the index's technical indicators suggest a potential short-term pullback, despite the prevailing steep downtrend. The KSE-100 closed 11.3% below the lower Bollinger Band, and the bands are currently 62.20% narrower than usual, indicating reduced volatility. However, this prolonged contraction in bandwidth could lead to a significant price move in the near term, as the probability of such a move generally increases the longer the compression persists.

Immediate support for the index is identified at 165,500, with a potential decline extending toward 164,800 and 164,300 if breached. Conversely, resistance is anticipated around 167,100, followed by 167,800 and 168,800. Market participants are advised to consider accumulating positions with clearly defined risks below the support zone.