Karachi: The KSE-100 index of Pakistan's stock market displayed a notable upward trend, closing at 167,086 points, marking a 802-point increase from the previous day. Trading volumes also saw a rise, reaching 687 million shares compared to the 608 million traded earlier.

Market analysts predict the index may soon challenge its resistance at Friday's peak of 167,924 points. Should the index surpass this level, it is expected to target the 169,280-170,000 range. On the downside, the index is likely to find support between 165,570 and 166,370 points.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have shown upward movement, suggesting a positive outlook for the market. Investors are advised to consider a strategy of 'buying on dips,' with a suggested stoploss set below the 166,370 level.

In related market activities, International Steels Limited (ISL) is showing consolidation above its 200-day moving average. The recommended strategy for ISL is to 'buy on dips,' with target prices set at Rs99.99 and Rs101.22, and a stoploss at Rs94.26.

Similarly, Pakistan Petroleum Limited (PPL) is gaining momentum, and the strategy remains to 'buy on dips,' targeting Rs220.24 and Rs225.13, with a stoploss at Rs211.00.

These insights are provided by JS Global, highlighting a cautiously optimistic approach for investors navigating the current market conditions.