Karachi: The KSE-100 index experienced significant fluctuations on its latest trading day, closing 2,690 points lower at 171,739 after reaching an intraday low of 2,775 points. Trading volumes decreased by approximately 9% compared to the previous session, indicating subdued market participation.

According to AKD Securities Limited, the index is 5.2% above its lower Bollinger Band, with the Bollinger Bands being 0.14% wider than their historical average, suggesting stable volatility. The index has shown a net of two bearish sessions over the past ten trading days, with four bullish candles against six bearish ones. It is nearing its 200-day Simple Moving Average (SMA) at 169,688, a critical long-term support level. The Relative Strength Index (RSI) at 39.36 signals weak momentum, suggesting a bearish near-term outlook.

The immediate support level is identified at 170,500, with potential further declines toward 169,500 and 168,600 if breached. Resistance is anticipated at 173,500, 174,100, and 175,000, with recommendations to accumulate positions while managing risks below the support zone.