Karachi, The Karachi Stock Exchange's KSE-100 index experienced a bullish trading session, with a notable gain of 368 points, closing at 64,822 points. This positive movement in the market comes amid slightly higher trading volumes compared to the previous session.

According to AKD Securities Limited, the index opened on a positive note and maintained its momentum throughout the session. The local bourse reached a high of 609 points during the session. Notably, the Index closed below the upper band of the Bollinger Bands by 22.7%, indicating a lower level of volatility as compared to its normal range. The bands being 40.23% narrower than usual further suggest a period of low volatility.

The Moving Average Convergence Divergence (MACD) has crossed its moving average, signifying a potential shift in the market trend. Over the recent period, the KSE-100 index has seen a fluctuation between a high of 66,587 points and a low of 58,758 points, with an overall decrease of 0.59%.

The technical analysis suggests that the index may find initial support near the 64,400 points level. If the index breaks below this support, it could lead to further weakening towards the levels of 64,000 and 63,600 points. On the flip side, the index is expected to face initial resistance near 65,400 points, with the possibility of moving towards the 65,800 and 66,400 points area in the event of an upward trend.

AKD Securities Limited recommends accumulating positions on weakness, indicating an opportunity for investors to buy during dips in the market.