Karachi: The KSE-100 index concluded a turbulent trading session with a significant loss, tumbling down by 620 points to close at 85,585, despite opening on a positive note. The session was marked by volatility, with the index swinging between a high of 315 points and a low of 620 points before settling at the day’s low. Trading volumes saw a decrease of 15% from the previous session.

According to AKD Securities Limited, the KSE-100 index is currently positioned around the 10-day Simple Moving Average on its daily chart. The Relative Strength Index (RSI) stands at 70.95, indicating a strong momentum, while the daily parabolic Stop and Reverse (SAR) is situated below the current level, suggesting a potential for continued downward movement.

The technical analysis by AKD Securities Limited highlights that the index may encounter initial support near 85,100 points. A drop below this support could lead to further declines towards 84,800 and 84,500 points. On the upside, resistance is seen near 86,000 points, with potential targets at 86,500 and 86,800 points if surpassed. Traders are advised to initiate buying positions with risk defined below the support zone.