Karachi: The KSE-100 index in Pakistan surged to close at 118,383 points, marking an increase of 1,068 points from the previous day. This rise in the index was accompanied by a significant increase in trading volume, with 672 million shares changing hands compared to 425 million in the prior session.

Market analysts anticipate that the KSE-100 will retest its recent peak of 118,827 points, with potential for reaching the all-time high of 120,796 points. In the event of downward movement, the index is expected to find support between 117,190 and 117,790 points. A fall below these levels could prompt a decline towards the 30-day moving average at 116,194 points.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are trending upwards, reinforcing a positive market outlook. Investors are advised to adopt a 'Buy on dips' strategy, setting stop-loss orders below the 30-day moving average. Key support and resistance levels are identified at 117,788 and 118,903 points, respectively.

In individual stock movements, DG Khan Cement (DGKC) is trading between key averages, with a 'Buy on dips' strategy suggested, targeting price levels of Rs129.60 and Rs132.38, and a stop-loss at Rs123.81. Similarly, Sui Northern Gas Pipelines Limited (SNGP) has experienced a price break upwards, with recommended targets of Rs126.82 and Rs131.75, and a stop-loss at Rs118.00.

The guidance comes from JS Global, providing strategic insights for investors navigating the current market conditions.