Karachi: The KSE-100 Index exhibited significant volatility in the latest trading session, falling 718 points to close at 171,021 after hitting an intraday low of 2,227 points and a high of 979 points. Trading volumes declined by approximately 6% compared to the previous session.

According to AKD Securities Limited, the index closed 7.3% above its lower Bollinger Band, while the Bollinger Bands were 8.79% wider than their historical average, indicating heightened market volatility. The index tested its 200-day Simple Moving Average of 169,698 but managed to stay above this crucial support level by the close. The Relative Strength Index was recorded at 38.26, which is below the neutral 50 mark, suggesting that bearish momentum remains prevalent in the short term.

The technical analysis suggests immediate support at 170,500, with potential declines toward 169,500 and 168,600 if breached. Conversely, resistance levels are identified at 173,500, 174,100, and 175,000. The recommendation is to accumulate positions with risk management below the support zone.