Karachi: The KSE-100 Index, which began the trading session on an optimistic note, faced significant pressure throughout the day, ultimately closing with a substantial loss of 882 points. The index ended the day at 118,221, falling below its 10-Simple Moving Average (SMA).

During the session, the index reached an intraday high of 188 points and a low of 952 points. Trading momentum increased sharply, with trading volume soaring by 251% compared to the previous session. Over the last ten sessions, the index has recorded only two positive closings against eight negative ones, resulting in a net of six negative closings.

The current chart analysis indicates that immediate support for the index lies at 118,000. If this level is breached, the index could potentially decline further toward 117,500 and 116,800. Conversely, resistance is anticipated around 119,500, with additional targets at 120,200 and 120,800.

AKD Securities Limited suggests accumulating positions with risk management strategies defined below the support zone. The index currently sits 35.5% below the upper Bollinger Band, with the bands themselves noted to be 113.80% wider than usual, signaling a phase of heightened volatility.