Karachi: The KSE-100 index experienced a volatile trading session, closing 120 points higher at 168,580 despite fluctuating between an intraday low of 168,066 and a high of 169,272. The session saw an increase in market participation, with trading volumes rising by approximately 27% compared to the previous day.

According to AKD Securities Limited, the KSE-100 closed 34.0% above the lower Bollinger Band, with the bands currently 66.05% narrower than their normal range, indicating subdued volatility. The persistent narrowing of the bands over seven consecutive periods suggests the potential for a sharp price move in the near future. Additionally, the MACD remains positive, trading above its signal line after crossing it in the latest session. However, the index is trading below the 10-SMA at 169,096.

Technically, immediate support is identified at 168,100, with a potential decline towards 167,500 and 166,500 if breached. Conversely, resistance is projected around 169,500, followed by 170,500 and 172,500. The recommendation is to accumulate positions with risk management defined below the support zone.