Karachi: The KSE-100 index surged by 810 points in the latest trading session, closing at 83,532 as trading volumes climbed to 382 million shares, up from 320 million in the previous session. The index has shown a pattern of establishing higher highs and higher lows, signaling further potential for upward movement. Key technical indicators support a continued positive trend in the market.

According to JS Global, the next target for the KSE-100 index is 83,849, with potential to reach as high as 84,484. The downside risk is expected to be contained between 82,880 and 83,250. Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are both trending upwards, further reinforcing the bullish outlook. Investors are advised to ‘Buy on dips’ with a risk threshold set below the 82,595 level. The key support and resistance levels have been identified at 82,883 and 83,894, respectively.

In related developments, Pakistan Petroleum Limited (PPL) has broken out above its 200-day moving average, suggesting a buy strategy targeting Rs121.67 and Rs124.28, with a stoploss at Rs115.61. Similarly, Pakistan State Oil (PSO) has closed above its 200-day moving average, recommending a buying strategy with targets at Rs179.47 and Rs185.43, and a stoploss set at Rs170.65.