KSE-100 Index Predicts Continued Uptrend, Targets New Highs

Karachi: The KSE-100 index demonstrated a notable positive trajectory, closing at 80,566 with an increase of 353 points. The trading volume registered at 262 million shares, a decline from the previous 449 million shares.

According to JS Global, the upward movement of the KSE-100 index suggests a potential rise to 81,135 points, with a further increase possibly reaching 82,329 points. Conversely, any downward movement will be cushioned between 79,700 and 80,260 points, marking a zone that could lead to a corrective phase if breached. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators have both ascended, reinforcing the bullish outlook. Investment strategies include buying on market dips with a recommended stop loss placed just below 79,697. The current support level is identified at 80,260, while resistance lies at 80,805.