· The index opened with a positive bias and remained bullish throughout the last trading session. The local bourse posted an intraday high of 743pts and concluded with a gain of ↑671pts to settle at 42,096pts. The volumes clocked in the last trading session were comparatively higher than the previous trading session. Currently the index is sustaining above 50-SMA (Simple Moving Average) on daily chart and daily parabolic SAR (Stop and Reverse) is currently appearing below the current level of the index which also supports for a bullish view over the index.

· The chart formation depicts that the index may find initial support near 41,500. A break below mentioned support can result into further weakness towards 41,250 and 41,000pts level. Alternatively, the index can face resistance near 42,400pts initially and then head towards 42,800 and 43,100 area. It is recommended to accumulate positions on weakness with risk defined below support zone.

Courtesy – AKD Research