Karachi: The KSE-100 index sustained its upward momentum with a significant gain, closing at 114,230 points after climbing 983 points from the previous day. Trading volumes also saw an increase, with 521 million shares exchanged compared to 500 million in the prior session.

According to a statement by JS Global, the index's technical indicators suggest potential for further advancement. A higher high and higher low pattern has been observed, indicating a bullish trend. The Relative Strength Index (RSI) and the Stochastic Oscillator also support this positive outlook. A breakthrough beyond the previous session's high of 114,496 could see the index extend its gains to 115,374, with the next target being the all-time high of 118,735.

The report highlights that any downward movement may find support within the range of 113,370-113,940 points. Investors are advised to consider a 'Buy on dips' strategy while maintaining a stoploss below the 113,084 level. Critical support and resistance levels have been identified at 113,377 and 114,790, respectively.

JS Global also mentioned specific stock strategies. HCAR closed above its 30-day moving average, with a recommendation to 'Buy on dips' targeting Rs320.78 and Rs327.52, and a stoploss at Rs306.72. Similarly, SNGP has generated a buy signal, with targets set at Rs102.90 and Rs107.19, and a stoploss at Rs94.91.