Karachi: The KSE-100 index experienced a significant rebound, closing sharply higher with a gain of 5,703 points to settle at 178,853. The session saw the index opening on a positive note and maintaining a bullish tone throughout the trading day, reaching an intraday high of 5,824 points. Trading volumes remained steady compared to the previous session.

According to AKD Securities Limited, the KSE-100 finished above the lower Bollinger Band by 23.2%, with the bands themselves 32.98% wider than usual, indicating increased volatility. The session resulted in a strong bullish candle, as prices ended above the opening level. Despite the sharp rebound, the market has seen more negative closes than positive over the last ten sessions, with three positive and seven negative results, leading to a net of four negative sessions. The Relative Strength Index (RSI) is at 45.40, indicating neutral to slightly weak momentum.

Technical analysis points to immediate support at 177,500, with potential declines toward 176,600 and 175,800 if breached. Resistance is expected around 179,400, followed by 180,500 and 181,600. The recommendation is to accumulate positions on dips with risks defined below the support zone.