Karachi: The KSE-100 index has continued its upward trajectory, closing at a historic high of 101,357 points, marking an increase of 1,275 points from the previous day. While trading volumes decreased to 916 million shares from 1,165 million in the prior session, the market's technical indicators suggest further gains, tempered by warnings of potential overbought conditions.

According to JS Global, the index's formation of higher highs and higher lows signals further potential upside, with targets set at 102,086 and subsequently 102,799. However, the market faces potential resistance and support levels ranging between 100,280 and 100,900 points. A breach below these levels could trigger a corrective trend, prompting investors to exercise caution due to overbought signals from the RSI and Stochastic Oscillator.

In specific stock movements, Engro concluded trading above its 200-day moving average, with a strategic recommendation to 'buy on dips' targeting Rs338.38 and Rs344.74, while maintaining a stop-loss at Rs331.30. Similarly, Sui Northern Gas Pipelines Ltd (SNGP) exhibited a steady uptrend, with advised targets of Rs90.81 and Rs94.44 and a stop-loss at Rs85.70.