Karachi: The KSE-100 Index demonstrated a robust bullish momentum during its recent trading session, opening on a positive note and maintaining an upward trajectory throughout the day. The index achieved an intraday high of 14,251 points before closing 14,138 points higher at 165,811. This session saw a significant increase in market participation, with trading volumes surging by approximately 137% compared to the previous session.

According to AKD Securities Limited, the index's technical indicators suggest that it closed 29.0% above the upper Bollinger Band, pointing to potential further upside. However, the more likely scenario remains a continuation within the current trading range. The index is trading approximately 3.5% above its 200-period moving average, indicating an ongoing upward trend. Despite elevated volatility relative to the average of the past 10 periods, volume indicators reveal a neutral volume trend, with a balanced flow of funds.

Technical analysis shows immediate support for the index at 163,900 points. A breach below this level could potentially push the index down to 161,800 and 160,700 points. Conversely, resistance levels are anticipated around 166,900, with further resistance at 168,300 and 169,800 points. Traders are advised to adopt a cautious approach and implement stop-loss strategies below key support areas.