Karachi, KSE-100 index concluded a volatile trading session at 78,232, marking a decrease of 578 points. The trading volume was recorded at 385 million shares compared to 471 million shares in the previous session.
According to JS Global, the KSE-100 index may approach the recent low of 78,167. A drop below this level could trigger a corrective trend, potentially bringing the index down to 77,158 and 76,262. Conversely, any upward movement may encounter resistance between 78,590 and 79,025. The Stochastic Oscillator indicates weakness, and the Relative Strength Index (RSI) has generated a sell signal, further supporting the likelihood of a downward correction. Investors are advised to consider selling below the 78,167 level, with support and resistance levels identified at 77,804 and 79,024, respectively.