Islamabad: The Pakistan Stock Exchange's benchmark KSE-100 index continued its upward trajectory, closing at 156,564, a significant jump of 476 points.

Despite a slight dip of 2% in trading volume compared to the previous day's session, the market maintained a strong positive momentum. The index fluctuated between an intraday high of 157,977 and a low of 156,564, showcasing volatility within the upward trend. The Relative Strength Index (RSI) currently sits at 83.21, indicating an overbought condition and raising concerns of a potential market correction. However, the Parabolic Stop and Reverse (SAR) indicator remains bullish, suggesting the uptrend may persist.

Technical analysts identify crucial support at 155,800. A breach below this level could spark further declines, with potential targets at 155,350 and 154,700. Conversely, upward movement faces resistance at 156,200, followed by further barriers at 156,800 and 157,700. Investors are advised to consider accumulating positions near the identified support levels, while acknowledging the risk of a downturn should the support be broken. The analysis is based on data provided by AKD Securities Limited.