Karachi: The KSE-100 Index experienced a bullish session, closing 1,021 points higher at 169,043, despite a marginal decline in trading volumes. The index reached an intraday high of 1,555 points during the session, reflecting a positive market sentiment throughout the day.

According to AKD Securities Limited, the index's performance showed it closing 16.6% above the lower Bollinger Band, although the bands remain 20.37% narrower than usual, indicating subdued volatility. The Relative Strength Index (RSI) is at 35.79, signaling a recovery from oversold conditions. However, the daily Parabolic SAR is positioned above the current index level at 171,070, and the index is trading below both its 100-day and 200-day Simple Moving Averages (SMA), suggesting that a sustained move above these averages is crucial for reversing the broader trend.

Currently, the index's immediate support stands at 168,500, with further declines possible toward 167,500 and 166,800 if this level is breached. Resistance is expected around 169,500, followed by 170,200 and 170,800. AKD Securities Limited advises a cautious trading approach, recommending position accumulation on dips with risk defined below the support zone.