Islamabad, In a fluctuating trading session, the Karachi Stock Exchange's KSE-100 index opened on a positive note but concluded with a loss, dropping by 43 points to settle at 70,290. The market exhibited volatility, reaching a high of 312 points and a low of 550 points over the session. Trading volumes increased slightly compared to the previous session.
According to AKD Securities Limited, the current technical setup of the KSE-100 index indicates potential challenges and opportunities ahead. The Moving Average Convergence Divergence (MACD) is currently bullish, having crossed above its signal line 12 trading sessions ago. Since then, the index has gained 5.62%. In terms of support and resistance, the index may find initial support near 69,800 points. If it breaks below this level, further declines toward 69,500 and 69,300 points could occur. Conversely, initial resistance is pegged near 70,700 points, with potential tests up to 71,100 and 71,500 points.
The research also outlines critical technical terms to help investors understand market movements. These include explanations of support and resistance levels, the Relative Strength Index (RSI), Bollinger Bands, and other indicators like the exponential moving average (EMA), simple moving average (SMA), and the parabolic SAR. Each of these tools provides insights into potential market directions and trading strategies.
Investors are advised to adopt a cautious trading approach and focus on profit-taking given the current market conditions and technical indicators.