Karachi: The KSE-100 index experienced a turbulent trading session, closing with a significant decline of 941 points, settling at 147,494. The session was marked by volatility, as the index recorded an intraday high of 803 points and a low of 1,098 points.

Trading activity increased by 15% compared to the previous session, although the index showed a bearish trend. The Moving Average Convergence Divergence (MACD) indicator remained below its signal line, a position it has maintained for three sessions. During this period, the index has decreased by 1.34%, fluctuating between a peak of 150,465 and a trough of 147,337.

Technical analysis suggests immediate support at the 147,100 level. A breach of this support could lead the index to drop further, targeting levels of 146,600 and 146,100. Conversely, resistance is anticipated at the 148,000 mark, with additional potential resistance at 148,600 and 149,100.

Market analysts recommend a cautious approach, advising traders to position themselves against well-defined support zones to mitigate risks. The prevailing downward trend indicates continued pressure on the index in the near term.

The analysis and recommendations were provided by AKD Securities Limited, emphasizing the importance of careful trading strategies amid the current market conditions.