Karachi: The KSE-100 index experienced a day of volatility but closed with a notable gain of 457 points at 157,021, marking a historic high for the index. Despite a decline in trading volumes by 9% from the previous session, the market demonstrated resilience, with the index hitting an intraday high of 916 points and a low of 484 points.

Technical analysis suggests continued bullish momentum with the MACD maintaining its position above the signal line. Since the MACD crossover three periods ago, the KSE-100 has advanced by 1.78%, trading within a range of 153,130 to 157,564.

The analysis indicates immediate support for the index at 156,800. A breach below this level could lead to further declines towards 156,300 and 155,700. On the other hand, resistance is expected at 157,500, with additional barriers at 158,300 and 159,000. Analysts recommend accumulating positions near the defined support zones, keeping in mind the associated risks.