Karachi: The Karachi Stock Exchange’s KSE-100 index demonstrated a positive trend as it closed at 78,488, marking an increase of 139 points from the day of trade. The trading volume notably rose to 681 million shares compared to 600 million in the previous session.

According to JS Global, the index, after testing resistance at the 50-day moving average (DMA), has shown potential for upward movement if it surpasses the 78,729 mark, which might dispel the current bearish outlook. A successful break above this resistance could set the stage for the index to target levels of 80,031 and 81,940. Conversely, should the index fall, it finds its first line of support at the 30-DMA of 78,254, with further support close at 77,990. The current trading conditions remain mixed, and investors are advised to remain cautious, possibly waiting for further dips before committing to significant moves. The established support and resistance levels to watch are 78,314 and 78,788, respectively.