Karachi: The KSE100 index experienced a notable recovery, signaling renewed buying interest in the market. The index, which opened positively, displayed volatility throughout the trading session by reaching an intraday low of 165,652 and a high of 168,626 before closing 2,593 points higher at 168,460. Trading volumes increased by approximately 14% compared to the previous session, indicating improved market participation.

According to AKD Securities Limited, a large bullish candle formed during the session, reflecting buying interest as the index closed above its opening level. However, analysis of the past 10 trading sessions showed a dominance of bearish candles, with 3 white candles and 7 black candles, resulting in a net of 4 black candles. The MACD remains below its signal line, having crossed below two sessions ago. Despite this bearish signal, the index has gained 1.56% since the crossover, suggesting resilience in price action despite weak momentum.

Technically, immediate support for the index is identified at 167,800, with a potential decline toward 167,100 and 166,500 if breached. Resistance is expected around 169,500, followed by 170,500 and 172,500. It is advised to accumulate positions with risk defined below the support zone.