KARACHI: The KSE-100 index experienced a significant upward movement during the latest trading session, closing 2,932 points higher at 180,015. The market showed a strong bullish momentum, reaching an intraday high of 3,119 points. Trading volumes also increased by approximately 12% compared to the previous session, signaling improved market participation.

According to AKD Securities Limited, the index's bullish momentum was supported by a technical indicator known as the MACD, which crossed above its signal line. This crossover marked the onset of positive momentum, as the index traded within a range of 178,512 to 180,202. The Relative Strength Index (RSI) also reflected strengthening buying interest, standing at 56.13, above the neutral threshold. Despite the upward trend, the market's short-term price structure exhibited a mixed pattern, with three bullish and seven bearish candles over the past ten trading sessions, leading to a net of four bearish closes.

The technical analysis suggests immediate support at 179,500, with a potential decline toward 178,500 and 176,800 if breached. Conversely, resistance levels are anticipated at 181,000, followed by 182,500 and 183,400. Analysts recommend accumulating positions with caution, ensuring risk is managed below the support zone.