Karachi: The KSE-100 index experienced a volatile trading session, exhibiting a significant fluctuation between a high of 987 points and a low of 142 points, before closing with a gain of 414 points at 117,316. This shift comes as the index continues its upward trajectory, trading 19.8% above its 200-period moving average.

Trading volume fell by 4% compared to the previous session, indicating a slight drop in market activity. Despite this, volume indicators pointed to moderate buying interest, reflecting a mildly bullish sentiment. Short-term trend forecasting oscillators maintained a bullish outlook for the index.

From a technical perspective, immediate support is identified at 116,800. Breaching this support level could lead to further declines toward 116,400 and 115,800. Conversely, resistance is anticipated around 117,800, with additional targets at 118,500 and 118,800.

Market analysts suggest considering positions near the support area but emphasize the importance of strict risk management strategies, especially if the support level is breached.