Karachi: The KSE-100 index exhibited a strong performance, rising by 2,276 points to close at 173,963, driven by a bullish trend sustained throughout the trading day. This surge was supported by a notable increase in trading volumes, which grew by approximately 20% compared to the previous session.

According to AKD Securities Limited, the Moving Average Convergence Divergence (MACD) indicator remains positive as it continues to trade above its signal line, signaling potential positive momentum in upcoming sessions. Since the MACD’s recent crossover above its moving average, the index has fluctuated between a high of 174,106 and a low of 171,545. Additionally, the Relative Strength Index (RSI) reached its highest point over the past 14 trading sessions, further indicating bullish sentiment.

Technical analysis suggests immediate support for the index at 173,200, with potential declines extending to 172,300 and 171,600 if breached. Resistance is anticipated around 174,600, followed by 175,800 and 176,500. Market participants are advised to consider accumulating positions while maintaining risk parameters below the identified support zone.