Karachi: In a strong showing at the Pakistan Stock Exchange, the KSE-100 index soared by 970 points to close at 80,461. Despite a dip in trading volume from 536 million to 400 million shares, the market’s upward trajectory hints at potential new records.

According to JS Global, if the current bullish momentum persists, the index is likely to aim for an initial target of 80,871, with sights set on surpassing the all-time peak of 81,940. Key support levels are established between 79,800 and 80,280, and additional backing at the 78,799 mark, aligning with the 50-day moving average. Positive trends in both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) affirm the optimistic market sentiment. Investors are advised to adopt a ‘Buy on Dips’ strategy, maintaining caution with a risk threshold below 79,799, while watching for resistance around 80,766.