Karachi: The KSE-100 index witnessed a volatile trading session but ultimately ended on a high note, registering a 579-point gain to close at 85,840. The market’s movements were marked by a high of 633 points and a low of 405 points, with trading volumes down 5% from the previous session.

According to AKD Securities Limited, the index is performing well above its 200-period moving average, an indication of a robust upward trend. Current volatility levels are stable, aligning with the average over the last ten periods. Trend forecasting oscillators remain bullish on the KSE-100, maintaining this positive outlook for the past 28 periods, while the Relative Strength Index (RSI) posts a high reading of 77.71.

The technical analysis suggests that the index may encounter initial support near the 85,500 point mark. A drop below this support level could lead to further declines towards 85,100 and 84,800 points. Conversely, resistance is expected near 85,900 points, with potential to push towards 86,450 and 86,800 points. Investors are advised to consider buying positions with a risk-defined strategy below the support zone.