Karachi: The KSE-100 index experienced significant growth during the last trading session, surging by 672 points to close at 79,287 points, fueled by a 34% increase in trading volumes compared to the previous session. The session’s bullish momentum is highlighted by a strong performance of the Moving Average Convergence Divergence (MACD) indicator, which has been positive for the past 13 trading days.

According to AKD Securities Limited, the index’s strong performance is underpinned by positive technical indicators, including the bullish MACD, which crossed above its signal line 13 sessions ago. Since this crossover, the KSE-100 has gained 0.63%, with fluctuations between a high of 79,336 points and a low of 77,990 points. The report suggests that the index could find initial support at around 79,100 points, with potential weakness if it falls below this level, possibly reaching down to 78,800 and 78,500 points.

On the resistance side, the index may encounter initial resistance near 79,600 points, with possibilities of climbing towards the 80,000 and 80,500 points range if upward momentum continues. AKD Securities advises investors to initiate buying positions near the support zone while maintaining well-defined risk management strategies below these levels.