Karachi: The KSE-100 Index demonstrated a robust upward movement during the latest trading session, closing 6,786 points higher at 155,512 following an intraday peak of 8,604 points. This surge was accompanied by a significant increase in trading volumes, which rose by approximately 81% compared to the previous session.

According to AKD Securities Limited, the index opened the day positively and maintained its upward trajectory, forming a bullish gap-up on standard volumes. This movement suggests the potential for a runaway gap, a technical indicator often pointing to the continuation of an upward trend. The Relative Strength Index (RSI), a key momentum indicator, stands at 47.48, slightly below the neutral mark. A new 14-period high in the RSI, without a corresponding high in the index, indicates a bullish divergence.

From a technical standpoint, immediate support is identified at 154,800, with further declines possible toward 153,600 and 152,100 if breached. On the resistance side, levels are anticipated around 158,150, followed by 159,500 and 160,700. The report suggests a cautious trading approach, advising the use of stop-loss measures below the identified support levels.