KARACHI: The KSE-100 Index experienced a volatile trading session, opening positively but ultimately closing 2,588 points lower at 165,824. This decline occurred alongside a 24% drop in trading volumes compared to the previous session.

According to AKD Securities Limited, the index fluctuated significantly, reaching an intraday high of 1,284 points and a low of 3,021 points. Over the past 10 sessions, the index has seen 3 bullish and 7 bearish sessions, culminating in a net negative performance. A bearish candlestick formed in the last session suggests a potential downward shift in momentum. The index is currently near its 21-day simple moving average, and a close below this level could result in additional pressure. The Relative Strength Index (RSI) is near the neutral zone, with a current reading of 51.08.

Technical analysis indicates immediate support at 164,500, with potential declines extending toward 163,300 and 162,500 if breached. Resistance is anticipated around 167,300, followed by 168,500 and 169,800. Market participants are advised to adopt a cautious trading strategy and consider accumulating positions on weakness, while keeping an eye on the defined support levels.