Karachi: The KSE-100 index continued its upward trajectory, showcasing a robust bullish trend throughout the latest trading session. The index surged to an intraday high of 4,776 points, ultimately closing 4,640 points higher at 177,040. Market participation was notably strong, with trading volumes seeing an increase of approximately 43% compared to the previous session.

According to AKD Securities Limited, from a technical standpoint, the Moving Average Convergence Divergence (MACD) indicator remains in a bullish territory, maintaining its position above the signal line following a positive crossover in the prior session. Since the MACD moved above its moving average, the index has recorded a 2.69% gain, fluctuating between 170,946 and 177,177 points. Additionally, the Relative Strength Index (RSI) reached its highest level in the last 14 trading sessions, further affirming the positive momentum and reinforcing the prevailing bullish outlook.

Technically, immediate support is identified at 176,200, and a breach below this level could lead to a decline toward 174,800 and 174,100. Conversely, resistance is anticipated around 177,800, with subsequent levels at 178,600 and 179,800. Strategic accumulation of positions is recommended, with risk management defined below the support zone.