Karachi, The KSE-100 index faced a turbulent trading session, with profit-taking impacting the overall performance. The index opened on a positive note but experienced fluctuations throughout the day, ultimately closing with a loss of 74 points, settling at 71,359 points. Despite this, the index reached a high of 413 points and a low of 95 points during the session.

According to AKD Securities Limited, the volumes in the session were higher than in the previous trading session. The KSE-100 index is currently 26.1% above its 200-day Simple Moving Average (SMA), indicating an upward trend. However, the volatility observed was lower than the average volatility recorded over the last 10 trading sessions, suggesting potential sharp fluctuations in the near future. Volume indicators reflected moderate flows into the index, with momentum oscillators showing overbought conditions.

The technical analysis suggested that the index could find initial support at 71,200 points, with further support at 70,800 and 70,500 points if it breaks below the initial level. Resistance was noted near 71,900 points, with further resistance at 72,200 and 72,500 points. Trading with a cautious approach and focusing on profit-taking was recommended.

The Relative Strength Index (RSI) and Bollinger Bands provided additional insights into the market's condition. The RSI, a momentum oscillator ranging from 0 to 100, indicated that the index was overbought, which could signal a bearish trend. Bollinger Bands, a technical analysis technique, showed the index moving closer to the upper band, indicating overbought conditions. Other technical indicators, such as the Moving Average Convergence Divergence (MACD), Exponential Moving Average (EMA), and Simple Moving Average (SMA), were used to assess the stock's trend.

Given these mixed signals, investors were advised to adopt a cautious approach when trading on the KSE-100 index and to pay attention to market fluctuations and support and resistance levels.