Karachi: The KSE-100 index experienced a highly volatile trading session, closing at 104,559 points, marking an increase of 1,284 points. Trading volumes rose by 9% compared to the previous session, indicating heightened market activity. The index, which reached a high of 1,406 points and a low of 449 points during the day, closed above the upper band by 7.0%, signaling a potential continuation of the upward trend in prices.

According to AKD Securities Limited, the substantial width of the Bollinger Bands, which are 137.29% wider than normal, suggests higher than usual volatility for the index. While the steep uptrend could indicate further gains, a short-term pull-back within the bands is likely. The chart analysis shows initial support near the 104,700-point level, with a potential decline to 103,800 and 103,000 points if this level is breached. Resistance is expected around 105,000 points, with additional targets at 106,400 and 107,100 points. Traders are advised to proceed with caution and employ stop loss strategies.