Karachi: The KSE-100 index continued its bullish momentum, closing 1,270 points higher at 165,737 after reaching an intraday high of 1,633 points. Trading volumes saw a marginal increase of approximately 3% compared to the previous session.

According to AKD Securities Limited, the positive trend was backed by technical indicators, including the MACD trading above its signal line and the RSI achieving a new 14-period high. The index's closure was noted at 47.1% above the lower Bollinger Band, with the bands being 59.63% narrower than usual, suggesting potential for increased volatility. Immediate support is identified at 164,700, with resistance anticipated around 166,500, 167,100, and 168,100. Investors are advised to accumulate positions on dips while considering risks below the support zone.