Karachi: The KSE-100 index experienced a notable rise, closing with a gain of 2,185 points at 165,373, as it broke through a trend-line resistance that had previously hindered its upward trajectory. This surge marks a potential shift towards higher highs, despite a 25% drop in trading volumes compared to the previous session.

The session commenced with a strong opening, maintaining its upward momentum to reach an intraday high of 2,423 points. However, concerns have been raised regarding the sustainability of this breakout due to the declining trading volumes.

Technical analysis indicates that the index remains in an overall uptrend, trading 21.6% above its 200-period moving average. Despite the bullish outlook, volatility remains higher than the 10-session average, suggesting cautious optimism among market participants.

Immediate support for the index is identified at 164,800, with a potential decline extending to 164,400 and 163,800 if breached. On the upside, resistance levels are anticipated at 165,850, followed by 166,400 and 167,000. Market analysts recommend accumulating positions during periods of weakness, with clearly defined risk management strategies below the support zone.