Karachi: The KSE-100 Index exhibited strong bullish momentum throughout the trading session, closing with a gain of 343 points, reaching 130,687. This was despite a noticeable decrease in trading volume, which fell by 19% compared to the previous session.

The index experienced an intraday high of 981 points and a low of 568 points. It ended the day 5.4% above the upper Bollinger Band, suggesting a potential upward breakout. However, market analysts believe the index is more likely to continue trading within its current range, given that Bollinger Bands are 42.14% wider than usual, signaling elevated volatility.

Immediate support for the index is identified at 130,500. Should this level give way, a further decline toward 129,800 and 129,200 might occur. Conversely, resistance is anticipated around 131,300, with additional targets at 132,000 and 132,500.

Analysts recommend accumulating positions near the support zone, with risk management strategies in place for potential downturns. The market's technical indicators are being closely monitored for further guidance.