Karachi: The KSE100 index saw a positive performance on the trading day, advancing to an intraday high of 848 points before closing 269 points higher at 171,153. Despite this upward movement, market participation showed signs of weakness, with trading volumes decreasing by approximately 2% compared to the previous session.

According to AKD Securities Limited, the market activity in recent sessions has been characterized by a mix of bullish and bearish trends. Over the past 10 trading sessions, there have been 4 bullish and 6 bearish candles, resulting in a net count of 2 bearish candles, indicating some selling pressure. The Relative Strength Index (RSI) has improved to 43.23, suggesting a recovery from oversold levels, although it remains below the neutral threshold. The daily Parabolic SAR is positioned below the current index level, indicating a short-term bullish bias.

Technical analysis suggests that immediate support for the index is at 170,500, and a decline below this could lead to further decreases toward 169,800 and 168,500. Resistance is anticipated around 171,500, followed by 172,800 and 174,000. It is advised to trade with caution, accumulating positions with risk defined below the support zone.