Karachi: The KSE-100 index demonstrated a robust performance, maintaining its upward momentum throughout the session. The index reached an intraday peak of 2,346 points before concluding with a significant gain of 2,145 points, closing at 130,344. Trading activity experienced a slight uptick, with volumes increasing by 3% compared to the previous session.

The index closed above the upper Bollinger Band by 14.9%, suggesting potential for further gains, although it is anticipated to remain within its current trading range. A bullish candlestick was formed, typically an indication of the continuation of an upward trend.

The technical analysis indicates immediate support at 129,800. If this level is breached, the index could potentially decline toward 129,200 and 128,500. Conversely, resistance is anticipated around 130,500, with further targets at 131,300 and 132,000. Market participants are advised to accumulate positions with risk management strategies below the support zone.

The analysis was provided by AKD Securities Limited, offering insights into the current market dynamics and potential future movements of the KSE-100 index.