Karachi: The KSE-100 index experienced a significant rise, gaining 3,683 points to close at 168,514, marking an improvement over its previous close. The trading volume also saw an increase, reaching 729 million shares compared to 386 million shares traded previously.

According to JS Global, the index's closure above the 30-day moving average (DMA) suggests potential for further gains. A breach above the recent high of 168,869 could propel the index towards the 170,779 mark, with a subsequent target of 173,275. Conversely, the downside is expected to find support at the 167,874 level, which is the 30-DMA, with the 200-DMA providing additional support at 165,111. The Relative Strength Index (RSI) and the Stochastic Oscillator are both aligned with a positive outlook. Investors are advised to 'Buy on dips', with a recommended stop loss set below the 200-DMA level. Support and resistance levels are identified at 167,145 and 169,376, respectively.

In related news, UBL has broken out above its 200-DMA, with a strategy to 'Buy on dips', targeting Rs412.46 and Rs423.75, while setting a stop loss at Rs401.21. DGKC also closed above its 30-DMA, with a similar 'Buy on dips' strategy targeting Rs192.78 and Rs198.44, and a stop loss at Rs175.20.