KARACHI: The KSE-100 index experienced a volatile trading session, ultimately closing below the 10-day Simple Moving Average (SMA), with a loss of 380 points, settling at 148,435. The session began on a positive note but saw fluctuations, reaching an intraday high of 638 points and a low of 503 points.

Trading volumes saw a significant contraction, decreasing by 23% compared to the previous session. The market's performance over the last 10 sessions has been mixed, recording three gains against seven losses, resulting in four net negative closings.

From a technical perspective, the Relative Strength Index (RSI) has signaled a bearish divergence, dropping to its lowest level in 14 days, while still indicating an overbought condition with a reading of 70.70. Additionally, the daily Parabolic SAR has moved above the index level, suggesting potential further downside in the near term.

Chart analyses point to immediate support at 148,400. A breach of this level could push the index lower towards 147,500 and 147,100. Conversely, resistance is anticipated at 149,100, with potential higher levels at 149,500 and 150,000.

Market participants are advised to maintain a cautious trading approach, focusing on positions aligned with well-defined support zones.