Karachi: The Karachi Stock Exchange’s benchmark KSE-100 index surged by 3,642 points to close at 185,099, marking a significant upward trend as volumes increased to 960 million shares from the previous 820 million. The index is now poised to test resistance at 185,209, with potential further gains targeting 186,340 and the all-time high of 187,905. Conversely, any declines are expected to find support between the 182,560 and 184,290 levels.

According to JS Global, technical indicators such as the Relative Strength Index and the Stochastic Oscillator have shown signs of a potential upside, prompting a recommendation for investors to consider purchasing on dips while maintaining a stoploss below the 182,560 level. The analysis identifies that the support and resistance levels are positioned at 183,369 and 186,019, respectively.

In related market movements, International Steels Limited (ISL) has closed above its 30-day moving average, with a strategy recommendation of ‘Buy on dips’ targeting Rs112.11 and Rs116.20, with a stoploss at Rs108.93. Similarly, Attock Refinery Limited (ATRL) is targeting recent highs, with a ‘Buy on dips’ strategy aiming for Rs775.00 and Rs789.00, and a stoploss set at Rs749.10.