Karachi: The KSE-100 Index experienced a volatile trading session, opening on a strong note but closing with a significant loss of 736 points at 164,531. Despite the turbulence, the index remains in an uptrend, positioned 29.0% above its 200-period moving average.

The session saw the index reach an intraday high of 1,463 points and a low of 960 points. Market participation increased, with trading volumes rising by 26% compared to the previous day. Although volatility remains high relative to the average of the last 10 sessions, there are indications that it may decrease soon, allowing levels to stabilize.

Technical analysis points to immediate support at 164,300. A breach of this level could lead to further declines towards 163,800 and 162,400. On the upside, resistance is anticipated around 166,000, followed by 166,700 and 167,400. Traders are advised to consider accumulating on market dips while maintaining a defined risk below the support zone.

The Relative Strength Index (RSI), a momentum oscillator, has reached a new 14-period low, currently standing at 65.88, suggesting that traders continue to monitor market conditions closely.