Karachi: In a robust display of market strength, the KSE-100 index surged by 2,051 points, closing at 145,088, as bullish momentum continued to fuel investor confidence. This significant gain was supported by a trading volume of 788 million shares, a marked increase from the previous session's 550 million shares.

The index is expected to test resistance at 145,187, yesterday's high, with a potential breakthrough targeting levels of 146,061 and 148,379. However, any downward movement could find support between 143,400 and 143,940, with a drop below these levels potentially initiating a corrective trend.

Technical indicators, including the RSI and MACD, are trending upwards, reinforcing a positive outlook. Investors are advised to adopt a 'Buy on dips' approach, with a recommended stoploss below the 143,410 level. Key support and resistance levels are identified at 143,936 and 145,714, respectively.

In related updates, HCAR's moving averages are expected to limit downside risks. The strategy suggests buying on dips with targets at Rs297.32 and Rs305.50, maintaining a stoploss at Rs287.04. PPL is experiencing post-breakout consolidation, with a similar 'Buy on dips' strategy targeting Rs186.79 and Rs190.30, and a stoploss set at Rs176.60.

These insights are provided by JS Global.