Karachi: The KSE-100 index continued its upward trajectory, closing the trading session with an impressive gain of 3,994 points at 172,013. The index, which witnessed an intraday gain of 4,268 points, benefited from a substantial increase in market participation, as trading volumes surged by approximately 75% compared to the previous session.

According to AKD Securities Limited, the KSE-100 is trading 0.4% above its 200-period moving average, indicating an ongoing upward trend. Despite elevated volatility compared to the 10-period average, there is potential for volatility to moderate and prices to stabilize in the near term. Volume indicators suggest a balanced flow of funds into and out of the index, while trend-following oscillators have maintained a bullish outlook over the past two trading sessions. In the last 10 sessions, the index recorded seven positive closes and three negative ones, resulting in a net balance of four positive closes.

From a technical perspective, immediate support is identified at 171,600, with potential declines extending to 170,900 and 169,400 if breached. Resistance is anticipated around 173,500, followed by 174,800 and 176,000. The recommendation is to accumulate positions on dips, with defined risk below the support zone.