Karachi, The KSE-100 index demonstrated a strong upward movement in the latest trading session, ending the day with a 620-point increase to close at 70,910 points. This performance signifies a positive shift in market dynamics, indicating a bullish trend throughout the session.

According to AKD Securities Limited, the local stock market began the day on a positive note and sustained its bullish momentum, reaching a session high of 678 points above the opening. Trading volumes saw a slight increase from the previous session, suggesting growing investor interest. Currently, the KSE-100 is positioned 26.0% above its 200-period moving average, reflecting an ongoing upward trend with low volatility compared to the average of the last 10 trading sessions. However, analysts anticipate potential volatility and sharp market fluctuations in the near future.

Technical analysis from AKD Research points to crucial support and resistance levels that could influence future trading strategies. The index may find initial support near 70,600 points, with further downside potentially leading to levels around 70,100 and 69,800 points. On the upside, resistance is likely to occur near 71,100 points, with possible progression towards the 71,500 and 72,000 points areas. Investors are advised to trade cautiously, focusing on profit-taking opportunities.