Karachi: The KSE-100 index experienced substantial volatility as it began the trading session positively but succumbed to continuous selling pressure, resulting in a significant decline by the end of the day. The index reached an intraday low of 4,138 points and concluded the session with a decrease of 3,715 points, settling at 157,496. This performance highlights a critical juncture as the index hovers around its 200-day Simple Moving Average (SMA), a key technical level for short-term market direction.

According to AKD Securities Limited, the market has witnessed four positive and six negative closes over the last ten trading sessions, leading to a net of two negative sessions. The elevated volatility, which surpasses the average of the past ten periods, may indicate an upcoming period of moderation, with price movements potentially stabilizing and entering a more tranquil trading range.

From a technical perspective, immediate support for the index is identified at 156,800 points, with a breach below this level possibly extending the decline towards 155,500 and 153,800 points. On the upside, resistance is anticipated at 159,800, followed by 161,200 and 162,800 points. Market analysts recommend accumulating positions with defined risk below the support zone, considering the current market dynamics.