Karachi: The KSE-100 index demonstrated robust performance, closing significantly higher after an intraday gain of 4,592 points, settling at 175,380, marking a 3,367-point increase. The trading session witnessed a remarkable surge in market participation, with volumes rising by about 33% compared to the previous day.

According to AKD Securities Limited, the index closed at 29.5% above the upper Bollinger Band, suggesting strong upward price momentum and hinting at a potential upside breakout. However, the current market conditions indicate that the index may continue to oscillate within its existing range. The Bollinger Bands are reported to be 31.90% narrower than usual, indicating lower volatility and leaving a possibility for a pullback toward the bands in the near future.

From a technical perspective, the immediate support level is identified at 173,500, with a potential decline extending to 172,400 and 171,500 if breached. On the upside, resistance is anticipated around 176,500, followed by 177,000 and 177,800. Market participants are advised to consider accumulating positions during dips, with risks defined below the identified support zone.