Karachi: The KSE-100 index closed at 161,538, gaining 1,946 points on the day as trading volumes increased to 783 million shares from 769 million previously. The index's position above the 50-day moving average at 160,750 suggests potential support, although a push beyond the recent high of 161,882 could target the 30-day moving average at 163,477.

Technical indicators like the Relative Strength Index and the Stochastic Oscillator have shown improvement, supporting a recovery outlook. However, investors are advised to remain cautious and consider buying on dips due to the market's higher side risks. Current support and resistance levels are identified at 160,669 and 162,144, respectively.

In other market movements, DG Khan Cement (DGKC) has seen indicators reverse, with a strategy of buying on dips targeting prices of Rs219.90 and Rs226.10, and a stop loss at Rs210.16. Similarly, Oil and Gas Development Company (OGDC) has generated a buy signal with targets of Rs257.57 and Rs261.24, and a stop loss at Rs246.45.

These insights are based on data from JS Global.