Karachi: The KSE-100 Index experienced a dynamic trading session, opening on a negative note but ultimately closing with a significant gain of 1,529 points, settling at 114,330. Despite a slight decline in trading volumes by 1% compared to the previous session, the index demonstrated a bullish trend.

According to a statement by AKD Securities Limited, the Moving Average Convergence Divergence (MACD) indicator has turned positive, trading above its signal line for the past two sessions. Since the MACD crossover, the local market has seen a 0.52% increase, fluctuating between a high of 114,574 and a low of 111,857.

Technical analysis indicates that key support is positioned at 113,800. A breach of this level may lead to further declines towards 113,300 and 112,500. On the upside, initial resistance is identified at 114,500, with subsequent targets at 115,000 and 115,500. Market participants are advised to consider accumulating positions near support levels while managing risks below the support zone.