Karachi: The KSE-100 index exhibited volatility throughout the trading session, ultimately closing with a marginal gain of 20 points at 120,023. The session began with an upward gap, reaching an intraday high of 826 points and a low of 130 points.

Trading activity showed a slight increase, with volumes rising by 2% compared to the previous session. Despite this, the Moving Average Convergence Divergence (MACD) remains in bearish territory, below its signal line, following a crossover two sessions ago. Since then, the index has experienced a decline of 0.37%, fluctuating between a high of 121,905 and a low of 119,770.

The current chart analysis suggests immediate support at 119,800. Breaching this level could lead to further declines towards 119,300 and 118,700. Conversely, resistance is anticipated around 120,800, with potential targets at 121,300 and 121,800. Market participants are advised to trade cautiously and consider accumulating positions during periods of weakness, with risk management below the support zone.

These insights were provided by AKD Securities Limited.