KARACHI: The KSE-100 index climbed significantly during the latest trading session, closing with a gain of 464 points at 152,666, close to its all-time high, according to a report from AKD Securities Limited. The index experienced an intraday high surge of 1,209 points, reflecting a robust market performance.

Market participation saw a marked increase with trading volumes rising by 21% compared to the previous session. Despite this upward momentum, technical indicators suggest investors should proceed with caution. The momentum oscillator indicates that the KSE-100 is currently in an overbought zone.

While the index achieved a new 14-period high, this move lacks confirmation from the oscillator. The Relative Strength Index (RSI) stands at 77.25, exceeding the neutral threshold, further indicating overbought conditions.

Technical chart analysis reveals immediate support at the 151,600 level. A decline below this point could potentially lead to further decreases towards 150,900 and 150,400. Conversely, resistance levels are identified at 152,900, with additional barriers expected at 153,500 and 154,400.

Investors are advised to consider accumulating positions near the defined support zone, keeping in mind the associated risks.