Karachi: The KSE-100 index experienced a turbulent trading session, opening on a downtrend but recovering to close with a net gain. The session ended with the index up by 162 points, settling at 81,967. Trading volumes saw a 19% decrease from the previous session.

According to AKD Securities Limited, the index underwent notable fluctuations, reaching a peak gain of 556 points and a low drop of 275 points during the session. The market’s behavior in the last 50 bars included 19 white and 31 black candles, indicating a predominance of negative sentiment overall. The Relative Strength Indicator (RSI) currently stands at 65.05, suggesting the index is above the typical neutral threshold, which might influence future trading strategies.

Technical analysis from AKD Securities points towards possible initial support for the index around 81,500 points. If the index dips below this level, it could face further declines towards 81,200 and 81,000 points. Conversely, resistance is expected near 82,200 points, with potential to rise towards 82,500 and ultimately 83,000 points. Traders are advised to consider buying positions with clearly defined risks below the support zones.

The session’s technical view suggests an approach of buying on weaknesses as the market presents several levels of support and resistance that could serve as critical thresholds for traders’ strategies moving forward.