Karachi: The KSE100 index experienced a volatile trading session, ultimately closing 825 points lower at 169,600, despite an initial positive opening. Trading volumes saw a notable increase of approximately 32% compared to the previous session. The session's intraday fluctuations saw the index peak at a high of 519 points and dip to a low of 887 points.

According to AKD Securities Limited, the past 50 trading sessions have shown a bearish trend, with 34 bearish candles compared to 16 bullish ones, indicating ongoing selling pressure. The Relative Strength Index (RSI) is currently at 39.67, below the neutral level. The index is positioned 31.3% above the lower Bollinger Band, with the bands themselves being 51.02% narrower than normal, suggesting compressed volatility. This scenario points to a potential significant price move as the narrow band width persists.

From a technical standpoint, the index faces immediate support at 169,400, with further declines possible to 168,800 and 167,600 if this level is breached. Resistance is expected around 170,800, followed by 171,800 and 172,500. Investors are advised to consider accumulating positions with risk management strategies below the support zone.