Karachi: The KSE-100 index demonstrated a strong performance, opening positively and maintaining upward momentum throughout the trading session. The index hit an intraday high of 10,153 points before closing with a significant gain, ending the day at 117,298 points. Trading volumes experienced a notable increase, rising by 45% compared to the previous session.

Over the past 10 trading days, the index has displayed an equal distribution of five bullish and five bearish sessions. The emergence of a hammer candlestick pattern suggests a possible bullish reversal following a downtrend or oversold phase.

Technically, immediate support for the index is identified at 116,800 points. Should this support level be breached, the index might decline further to 116,100 and 115,500 points. Conversely, resistance is anticipated at 118,400 points, with further potential upward targets at 119,500 and 120,700 points. Market analysts recommend accumulating positions while defining risk below the support zone.