Karachi: The KSE-100 index experienced a turbulent trading session, opening on a positive note but succumbing to selling pressure throughout the day. The session saw the index reach an intraday high of 163 points and a low of 1,077 points before closing with a loss of 826 points, settling at 132,577.

Trading activity took a notable hit, with volumes decreasing by 50% compared to the previous session. Over the past 10 sessions, the index recorded 6 positive closes and 4 negative closes, resulting in a net of 2 positive sessions. The Moving Average Convergence Divergence (MACD) indicator remains in bullish territory, continuing to trade above its signal line. This bullish crossover occurred 8 sessions ago, during which the index gained 6.59%, fluctuating between a high of 134,200 and a low of 122,223.

The current chart analysis indicates that immediate support for the index lies at 132,300. A breach of this level may lead to further declines toward 131,500 and 130,800. Conversely, resistance is anticipated around 133,500, with potential upward targets at 134,500 and 135,200. Market analysts recommend accumulating positions near the support zone, with risks clearly defined below it.

These insights are provided by AKD Securities Limited, highlighting the volatile conditions of the market and suggesting cautious trading strategies for investors.