Karachi: The KSE-100 index faced a substantial decline, closing 6,408 points lower at 173,519, after hitting an intraday low of 6,576 points amid persistent selling pressure. Despite the downturn, trading volumes increased by approximately 12% from the previous session, indicating strengthened market activity.

According to AKD Securities Limited, over the last 50 trading sessions, the index has seen 23 bullish candles against 27 bearish ones, resulting in a net count of four bearish candles. The KSE-100 closed 6.4% below its lower Bollinger Band, reflecting a significant breach on the downside. The Bollinger Bands are 24.63% narrower than their historical average, indicating compressed volatility despite recent market movements. The Relative Strength Index (RSI) has decreased to 41.18, falling below the neutral level, which suggests weakening momentum.

Technical analysis points to immediate support at 173,400, with a potential further decline toward 172,300 and 171,500 if breached. Resistance levels are projected at 176,500, 177,300, and 178,500. Market participants are advised to consider accumulating positions with risk defined below the support zone.