Karachi: The KSE-100 Index demonstrated a robust recovery during the latest trading session, closing 5,434 points higher at 161,211, driven by strong market volumes. The index, which had started the session on a positive trajectory, witnessed an intraday peak of 5,700 points, reflecting a sustained bullish trend throughout the day.

According to AKD Securities Limited, the index's recent performance comes after it briefly fell below its 200-SMA three sessions ago, a dip it has since corrected by regaining its position above this average. The Relative Strength Index (RSI), a key momentum indicator, showed a sharp recovery from a level below 30 to a current reading of 39.00, underscoring improved market sentiment. Despite the MACD histogram remaining negative, the diminishing bearish momentum suggests a gradual shift towards the signal line.

Current technical indicators position the KSE-100 at 23.4% above the lower Bollinger Band, with the Bands themselves significantly expanded to 163.19% wider than usual, indicating heightened market volatility. Immediate support is identified at 158,900, with potential declines extending toward 158,200 and 157,600 if breached. Resistance levels are anticipated at 163,200, 163,800, and 165,000, with a recommendation to accumulate positions while managing risks below the support zone.