Karachi: The KSE-100 index continued its upward trajectory, closing at 174,473 with a gain of 576 points on the day. Trading volumes slightly decreased to 851 million shares compared to the previous session's 858 million. Analysts suggest that if this trend persists, the index could soon reach the 175,883 level, with a potential rise to 180,500.
Market indicators, including the RSI and MACD, are showing an upward trend, reinforcing a positive outlook. Investors are advised to adopt a 'Buy on dips' strategy, with a risk threshold set below 173,783. The index is expected to find support between 173,780 and 174,130, with resistance observed at 174,812.
In specific stocks, Pakistan Petroleum Limited (PPL) shows an upward price trend, with targets set at Rs238.36 and Rs242.24 and a stop loss at Rs229.61. Similarly, Habib Bank Limited (HBL) is suggested for 'Buy on dips', targeting Rs327.99 and Rs332.10, with a stop loss at Rs319.90.
The insights are provided by JS Global, indicating strategic points for investors to consider in the current market environment.