KSE100 – Major Distribution After Historic RallyKSE 100 IndexPSX_DLY:KSE100Trader1mranAfter an extended parabolic rally, KSE100 appears to be transitioning from markup to distribution on the weekly timeframe. The chart is forming a clear Head & Shoulders topping structure, suggesting that the market may be entering a deeper corrective phase. Price has already broken below the neckline region around 160K–165K, confirming weakness, while the sharp rejection from the recent peak indicates strong supply entering the market. The index is also testing the weekly trend support (blue MA), which previously acted as dynamic support during the entire bull run. If selling pressure continues, the next key downside levels to watch are the Fibonacci retracement zones: 0.5 retracement: ~115,900 0.618 retracement: ~97,900 0.72 retracement: ~82,400 The 80K region stands out as the final line of defense for the long-term bullish structure. A move toward this zone would represent a deep but technically healthy correction after the massive rally from 2023 lows. Momentum indicators are also confirming the shift. MACD on the weekly timeframe has rolled over aggressively, with expanding bearish histogram, signaling increasing downside momentum