Karachi: The KSE-100 Index maintained a bullish stance in the last trading session, opening positively and concluding with a gain of 158 points to settle at 79,491 points. Despite a 21% decline in trading volumes from the previous session, the market’s technical indicators suggest increased potential for near-term volatility.

According to AKD Securities Limited, the Relative Strength Index (RSI) peaked at its highest value in the last 14 days, registering at 59.79, indicating bullish divergence. The Bollinger Bands were significantly narrower, 69.73% narrower than usual, pointing to lower volatility but also hinting at the possibility of a sharp price movement soon. The technical setup predicts potential initial support for the index near 79,200 points, with further support at 78,800 and 78,500 points if declines occur. Resistance is seen near 79,700 points, with potential movement towards the 80,000 and 80,300 areas.

The trading recommendations included buying positions at the support zones for several scrips such as OGDC, PAEL, TRG, INIL, and HUBC, with defined risk parameters. Conversely, sell recommendations were issued for KOSM, STPL, PRL, ATRL, and NETSOL, specifying target ranges and stop losses.