FLASHNEWS:

KSE-100 Index Nears All-Time High, Encouraging Bullish Outlook for Karachi Market

Karachi, Today's trading session saw the KSE-100 Index ascend by 862 points, finishing at 72,764. This push brings the index within striking distance of its all-time high of 73,301, with trading volumes rising to 578 million shares from the previous 452 million.

According to JS Global, the current trajectory suggests that a break above 73,301 could trigger a new bullish rally, potentially reaching up to 74,347 and 74,994. Conversely, any pullback in the index is expected to find support between 72,160 and 72,470. Technical indicators like the Relative Strength Index (RSI) and the Stochastic Oscillator have risen, reinforcing the positive momentum observed in the market.

Investors are advised to consider buying above the 73,301 threshold, as current levels of support and resistance are identified at 72,464 and 73,062, respectively. This advice comes amid a market atmosphere that seems primed for continued growth, barring unforeseen negative developments.