Karachi: The KSE-100 index saw a notable rise, gaining 9,697 points to close at 156,177. Trading volumes were reported at 487 million shares, a decrease from the 622 million shares traded previously. Market analysts indicate the index is likely to encounter resistance between 156,600 and 158,360, with a potential recovery move towards the 163,974 and 169,380 levels if the resistance is surpassed. Conversely, support levels are identified between 153,550 and 154,860, providing a buffer against any downward trend.

According to JS Global, the Relative Strength Index (RSI) and Stochastic Oscillator metrics have shown improvement, reinforcing the recovery outlook. Investors are advised to adopt a 'Buy on dips' strategy, maintaining a stop-loss below 153,549. The report outlines specific support and resistance levels at 154,863 and 157,923, respectively. In related stock movements, Pakistan Petroleum Limited (PPL) is expected to continue its recovery with a buy strategy targeting Rs224.50 and Rs230.32, with a stop-loss at Rs215.10. Additionally, a buy signal has been generated for ISL, with targets set at Rs77.64 and Rs83.46, and a stop-loss at Rs71.00.