Karachi: The KSE-100 index experienced significant turbulence on Thursday, as it started on a positive note but quickly succumbed to volatility and sustained selling pressure throughout the trading session. The index recorded an intraday high of 1,042 points and a low of 2,137 points before closing sharply lower by 1,732 points at 156,733.

Trading volumes saw a slight decrease, falling by 3% compared to the previous session. The index's close below the lower Bollinger Band by 6.0% signals that bearish momentum may persist, although a short-term rebound within the bands remains a possibility. The Bollinger Bands are currently 17.99% wider than their usual range, indicating heightened volatility over the last 10 sessions.

The Relative Strength Index (RSI) stands at 37.72, reflecting weakening momentum in the market. Analysts from AKD Securities Limited suggest that immediate support for the index is at 156,600, with a breach below this level potentially extending the decline toward 155,900 and 155,400. Conversely, resistance is expected around 158,500, followed by 159,100 and 159,800.

In light of these developments, a cautious trading approach is advised, with opportunities to accumulate on market dips, according to technical analysis by AKD Securities Limited.