Karachi, The KSE-100 index demonstrated a strong performance in its latest trading session, opening with a positive bias and maintaining bullish momentum throughout the day. The session concluded with the index up by 253 points, settling at 78,528 points.
According to AKD Securities Limited, the local bourse experienced a notable high of 703 points during the session but saw a decrease in trading volumes compared to the previous session. Currently, the index stands 25.8% above its 200-period moving average, indicating a sustained upward trend. Market volatility remains high, significantly above the average of the last ten trading sessions. Volume indicators suggest a balanced flow of volume into and out of the index, with trend forecasting oscillators maintaining a bullish stance for several sessions.
The analysis predicts potential support for the index near 78,300 points. If this level breaks, the index could face further declines towards 78,000 and 77,800 points. On the resistance side, initial challenges could appear near 78,900 points, with potential moves towards 79,400 and 79,800 points. Investors are advised to adopt a cautious trading strategy and consider accumulating positions near the support zones, with clearly defined risks below these levels.