MAKE OR BREAK SITUATION IN COMING DAYSKSE 100 IndexPSX:KSE100THE-CHART-ALCHEMISTTechnical Analysis of the PSX Stock Index (KSE-100) by The Chart Alchemist on the Daily Timeframe After breaking down from the higher timeframe bullish channel (highlighted in light blue), the KSE-100 index entered a bearish trend. Previously, I informed the community over two months ago about a key trading range, and a main support zone between 138,000 and 140,000 points was communicated as a critical area to watch. The index, before the recent decline, was oscillating in a range, which sparked optimism for a bullish reversal. However, this reversal largely turned out to be a weak pullback toward the EMA, which we emphasized in last week’s analysis. Currently, the index is at a crucial crossroads, with three possible scenarios unfolding in the coming days. Scenario 1 (Bullish Continuation) The index finds support at the critical support level (previously identified as a secondary support) at 144,700 points—this level was communicated to the community last month as a pivotal threshold. If support holds, a bullish resumption is likely, especially above immediate and primary resistances. A decisive close above 162,000 points—an upper target level I shared three months ago—would confirm a sustained bullish trend. Scenario 2 (Trading Range) If the index breaks the critical support, it heads toward the main support zone (138,000–140,000 points). I have highlighted this zone to the community over two months ago as the critical fallback. Here, the index could enter a prolonged trading range between 138,000 and 155,000 (or up to 160,000). This range could persist for an extended period before a breakout either upward or downward. Scenario 3 (Bearish Breakdown) This is the most bearish outcome, which I first communicated three months ago. The index breaks both the critical support and the main support zone, potentially heading toward the breakdown target of 118,600 points—this target was also intimated to the community three months ago. After reaching this level, a consolidation could occur, potentially signaling a trend reversal. Conclusion In conclusion, the PSX KSE-100 index is at a pivotal juncture. As I have communicated over the past three months, the strength of the critical support and main support zones will dictate the next trend. Investors should exercise caution, strictly manage existing positions, and apply disciplined risk management.