Karachi: The KSE-100 Index ended on a positive note, posting a gain of 638 points to close at 118,971, as it maintained a bullish trajectory throughout the trading session. The intraday high reached 1,307 points, though trading activity saw a 24% decline in volume compared to the previous day.

The Index is currently trading 15.6% above its 200-period moving average, indicating continued upward momentum. However, volatility remains heightened relative to the average of the last 10 sessions. Volume indicators suggest a neutral stance with balanced inflows and outflows.

Technical analysis points to immediate support at 118,400, with potential declines to 117,800 and 117,300 if breached. Resistance is anticipated around 119,500, with further targets at 120,200 and 120,800. Accumulating positions is advised, with risk defined below the support zone.

The market has maintained a bullish trend for the past eight sessions, as reported by AKD Securities Limited.