Karachi: The KSE-100 Index experienced significant fluctuations in its recent session, opening positively before encountering volatility that saw a session low of 1,540 points and a high of 772 points. The Index ultimately closed at 117,587. This session marked a 4% increase in trading volumes compared to the previous session, and the appearance of a long lower shadow, which is often seen as a bullish signal.

According to AKD Securities Limited, the Index has seen 30 positive closes against 20 negative ones over the last 50 trading sessions, resulting in a net of 10 positive sessions. Despite the Moving Average Convergence Divergence (MACD) maintaining a bearish stance, the Index has risen by 10.64%. Since the MACD crossed its signal line, the Index has shown considerable fluctuation, reaching a high of 118,367 and a low of 105,601.

From a technical perspective, support is evident near the 116,800 mark, with potential declines to 116,200 and 115,800 if this level is breached. Conversely, resistance is initially anticipated at 118,000, with further targets set at 118,900 and 120,600. It is advised to accumulate positions with risk management strategies defined below the supportive zone.