Karachi: The KSE-100 index continued its upward trajectory, closing the day with a significant 970-point gain at 80,461, despite a slight 2% decrease in trading volumes from the previous session.

According to AKD Securities Limited, the index maintained a robust performance throughout the day, peaking at 1,096 points. The Moving Average Convergence Divergence (MACD) indicator remains in a bullish phase, having surpassed its signal line 18 sessions ago. Since this crossover, the index has registered a 2.12% increase, oscillating between a high of 80,587 and a low of 77,990 points.

The technical analysis suggests that the index might find initial support around the 80,000 mark. If it dips below this level, it could weaken towards the 79,800 and 79,500 points levels. Conversely, resistance is likely near 80,800 points, with potential further ascents to 81,000 and 81,400 points. Investors are advised to consider buying near the support zone, with defined risks below these levels.