Karachi: The Karachi Stock Exchange’s KSE-100 index closed higher, ending the day at 79,018, an increase of 366 points. Trading volumes reached a high of 584 million shares, up from 533 million in the previous session. The index remained above its 50-day moving average, indicating sustained bullish momentum, with critical support and resistance levels identified for traders.

According to JS Global, the KSE-100 has managed to stay above its 50-day moving average (DMA), which currently stands at 78,814, acting as a pivotal support level. Additional support is noted at the 30-DMA of 78,252. Traders looking upwards will face resistance between 79,210 and 79,520, with a breakthrough potentially pushing the index towards 80,031. The technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) support a positive outlook, although caution is recommended at these higher levels.

For specific stocks, Oil & Gas Development Company (OGDC) is advised as a ‘Buy on dips’ with targets at Rs141.11 and Rs144.62, and a stop loss set at Rs137.00. Similarly, D.G. Khan Cement (DGKC) is testing resistance at its 50-DMA, with a buy strategy recommended on dips, targeting Rs84.56 and Rs89.39, and a stop loss at Rs80.11.