Karachi: The KSE-100 index experienced a day of profit-taking, closing 803 points lower at 115,042 despite starting the session positively. The trading volume increased by 26% from the previous session, indicating a balanced flow into and out of the market.

According to a statement by AKD Securities Limited, the market faced significant selling pressure, reaching a session low of 1,061 points and a high of 580 points. Current trend forecasting oscillators show a bearish outlook, supported by the Moving Average Convergence Divergence (MACD) trading below its signal line for 22 periods. Despite this bearish sentiment, the index has risen by 8.25% since the crossover, fluctuating between a high of 118,735 and a low of 105,601.

Technical analysis highlights key support near 114,700, with a breach potentially leading to further declines toward 114,200 and 113,800. Resistance levels are anticipated initially at 115,500, with further targets at 116,000 and 116,800. Market participants are advised to adopt a cautious trading approach, focusing on accumulating positions with risk management strategies around the supportive zones.