Karachi: The KSE-100 index demonstrated resilience in the face of market volatility, closing with a modest gain amid fluctuations during the latest trading session. The index, which began the day on a strong note, saw an intraday high of 834 points and a low of 222 points, ultimately closing up by 47 points at 118,430. Trading volumes declined slightly, down 4% from the previous session.

Technical analysis reveals that the index remains 24.0% below the upper Bollinger Band, with the bands being 28.43% narrower than usual, indicating a period of reduced market volatility. Over the past ten sessions, the market experienced four positive closings and six negative closings.

The Relative Strength Index (RSI) stands at 58.93, maintaining a position above the neutral level and suggesting moderate bullish momentum. Immediate support for the index is identified at 117,800. A breach of this level could lead to further declines toward 117,300 and 116,800.

Conversely, resistance is anticipated around 118,800, with potential upward targets at 119,500 and 120,600. Analysts recommend considering entry positions near the support area, with a strong emphasis on implementing risk management strategies in case of a close below support.

This market analysis is provided by AKD Securities Limited, highlighting the ongoing technical trends and strategic considerations for traders and investors navigating the current market environment.