Technical Analysis of PSX Stock Index KSE-100 on 1-Hour TimeframKSE 100 IndexPSX:KSE100THE-CHART-ALCHEMISTTechnical Analysis of PSX Stock Index KSE-100 on 1-Hour Timeframe By The Chart Alchemist Market Structure Overview The KSE-100 Index was previously trading in a strong bullish trend and successfully achieved an all-time high near 190,800 points. Following this historic high, the index underwent a significant breakdown below a major structural support level, which now serves as the primary resistance zone around 182,000 points. This breakdown also resulted in the index moving below its previous upward trendline, indicating a shift in overall market structure from bullish to bearish behavior. --- Stopping Action & Upward Reversal After the bearish decline, the index formed a notable stopping action around the 144,700 points level. From this region, the market witnessed a sharp upward reversal, signaling temporary strength and aggressive buying interest from lower levels. However, despite the strong rebound, the subsequent upward movement has remained relatively sluggish and unstable. Multiple bearish pullbacks during the recovery phase indicate that bullish momentum remains weak and unconfirmed. --- Current Price Behavior & Trend Assessment The entire recent price structure — currently marked within the light blue channel — appears to be behaving as a corrective pullback toward the previous breakdown level rather than the beginning of a confirmed bullish trend. Although the index has recovered substantially from the stopping-action zone, the broader market structure continues to lean bearish unless major resistance zones are decisively reclaimed. At present, price action suggests that sellers are still active near higher levels, while buyers have yet to establish sustained dominance. --- Bullish vs Bearish Confirmation The market is currently trading at a critical decision zone. If the index falls below and sustains under the critical support level of 158,530 points, the broader structure should be considered properly bearish, with increased probability of further downside continuation. However, as long as the index remains above this critical support, there is still a possibility that the current pullback structure may eventually transform into a larger bullish recovery trend. For bullish confirmation, the index must decisively break and sustain above the major resistance and previous breakdown retest zone near 182,000 points. Until then, the current recovery phase should be treated cautiously as a potential bearish pullback rally. --- Important Technical Levels Support Levels Immediate Support: 164,320 points Secondary Support: 161,200 points Critical Support: 158,530 points Resistance Levels Immediate Resistance: 172,200 points Secondary Resistance: 175,000 points Main Resistance / Previous Breakdown Retest Level: 182,000 points --- Technical Outlook The short-term structure of the KSE-100 Index remains neutral-to-bearish on the 1-hour timeframe. While the market has shown recovery from the stopping-action zone, the inability to produce strong impulsive bullish continuation reflects underlying weakness. The coming sessions will remain highly important, particularly around the critical support and major resistance regions, as they are likely to determine the next directional move of the market.