Karachi: The KSE-100 index showed bullish trends in the last trading session, opening positively and maintaining its upward trajectory to close with a gain of 379 points, settling at 78,824 points. Despite the positive close, the session was marked by lower trading volumes compared to the previous session.
According to AKD Securities Limited, the index is currently positioned 25.6% above its 200-period moving average, indicating a sustained upward trend. However, volatility remains high, and volume indicators suggest an equal inflow and outflow of volume. The technical outlook is optimistic, but the market faces immediate support near 78,400 points. A break below this level could lead to declines towards 78,000 and 77,800 points. Resistance is expected near 79,400 points, and surpassing this could push the index towards 79,800 and eventually 80,060 points. Analysts recommend trading with caution and accumulating positions near the support zone, with clearly defined risks.