Karachi: The KSE-100 Index closed with significant gains in its latest trading session, showcasing a bullish momentum throughout the day. The session ended on a high note with the index up by 410 points, settling at 79,397 points, although trading volumes were noted to be lower than the previous session.

According to AKD Securities Limited, despite the day's positive performance, the KSE-100 Index failed to close above the 21-day Simple Moving Average (SMA) on the daily chart. The past ten trading sessions saw an equal number of bullish (white) and bearish (black) candles, with the index closing above the lower Bollinger Band by 43.3%. The Bollinger Bands, however, were 35.86% narrower than usual, indicating decreased market volatility.

The technical analysis suggests initial support for the index near 79,100 points. A fall below this support level might lead to further declines toward 78,800 and 78,500 points. On the resistance side, the index may encounter initial hurdles near 79,500 points, with potential to reach higher levels at 79,800 and eventually 80,100 points. Market participants are advised to adopt a cautious trading strategy and consider accumulating positions near support levels or during market weakness.