Karachi, The KSE-100 index surged to an all-time high, closing at 78,802 points with a significant gain of 2,095 points in a session marked by robust trading and bullish sentiment. The trading volume increased to 453 million shares, up from 396 million in the previous session.
According to JS Global, the upward trajectory of the KSE-100 index is supported by positive technical indicators such as the Rising Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), both of which indicate a continued bullish outlook. The firm sets an initial target for the index at 79,760, potentially rising to 80,716 if the momentum persists. Despite the possibility of a short-term pullback, as the index is currently above the Upper Bollinger Band, the overall market conditions are favorable for buying on dips. JS Global recommends keeping the stop loss below 76,896, with key support and resistance levels identified at 77,502 and 79,495, respectively.