Karachi: The KSE-100 Index experienced a robust upward movement, reaching an intraday high of 2,542 points before closing with a significant gain of 2,203 points at 136,503. This ascent marks a continued positive trend for the index, despite a slight decline in trading volume by 10% compared to the previous session.

The index opened strongly with a bullish gap on normal trading volume, signaling the potential for a runaway gap that often indicates a continuation of the current trend. This bullish stance has been consistent for 38 periods, as confirmed by trend forecasting oscillators. Furthermore, the index is currently trading 24.2% above its 200-period moving average, underscoring the prevailing upward trend.

Chart analysis indicates immediate support for the KSE-100 at 135,700. Should this support level be broken, further declines could see the index fall to 135,200 and 134,700. Conversely, resistance is anticipated around 136,800, with potential targets set at 137,250 and 137,900. Investors are advised to consider accumulating positions near the support zone, with clearly defined risk below this level.