Karachi: The KSE-100 Index displayed a bullish demeanor throughout the last trading session, achieving a significant rise of 139 points to close at 78,488 points, despite a slight decrease in trading volumes.

According to AKD Securities Limited, the local bourse opened positively and managed to maintain upward momentum, marking a high of 565 points during the session. The trading volumes were reported to be marginally lower by 2% compared to the previous session. The technical analysis shows the Relative Strength Index (RSI) positioned at 52.51, indicating a slightly bullish momentum above the neutral threshold. Furthermore, the daily parabolic Stop and Reverse (SAR) signal is beneath the current index level, suggesting continued upward potential.

The 50-day Simple Moving Average (50-SMA) currently poses immediate resistance, while the index has potential support near 78,200 points. Should it break below this level, the index might weaken further towards 77,800 and 77,500 points. On the flip side, resistance is expected near 78,800 points, with potential targets at 79,100 and 79,400 points. AKD Securities recommends initiating buying positions near the support zone with clearly defined risks.