Karachi: The KSE100 Index closed higher on Thursday, ending a four-day losing streak, with the index recovering significantly from its earlier losses to close 1,647 points higher at 170,512. The market exhibited volatility, as it opened on a negative note but saw increased trading volumes, which rose by approximately 7% compared to the previous session.

According to AKD Securities Limited, the Index is trading 0.9% below its 200-period moving average, with elevated volatility levels compared to the past 10 trading sessions. While volume indicators point to moderate outflows, suggesting mildly bearish participation, short-term trend-forecasting oscillators remain bullish, indicating potential for a technical rebound.

The Relative Strength Index (RSI), a momentum indicator, stands at 33.62, nearing the oversold territory and suggesting weak momentum. On the daily chart, the Index remains below its 200-day Simple Moving Average (200-SMA) of 172,093, which maintains pressure on the broader short-term technical outlook. Immediate support is identified at 169,300, with possible declines extending to 168,600 and 167,500 if breached. Resistance is anticipated around 171,000, followed by 171,800 and 173,100, with a recommendation for cautious trading and position accumulation on dips within the defined risk zone.