Karachi: The KSE-100 index experienced a tumultuous trading session, marked by significant volatility that saw the market reaching an intraday high of 613 points and a low of 640 points, before closing with a loss of 562 points at 138,693. Trading activity showed a notable increase, with volumes rising by 41% compared to the previous session.

The index's performance kept it 23.3% below the upper Bollinger Band, with the bands currently measuring 61.65% wider than their usual range. This indicates heightened volatility, though a reduction and a shift toward a more consolidated trading range are anticipated in the near future. The Bollinger Bands have remained unusually wide for 16 consecutive trading sessions, suggesting the possibility of the market entering a more stable phase soon.

Technical analysis suggests the index's immediate support level is at 138,500. Breaching this level could see the index dropping further to 137,800 and 137,300. Conversely, resistance is projected around 139,500, with potential targets at 139,900 and 140,500. Analysts recommend a cautious trading strategy, emphasizing accumulation near defined support zones while managing risks below this threshold.