Karachi: The KSE-100 index recorded a positive session, closing at 94,996 with a gain of 232 points. Trading volumes reached 765 million shares, a decrease from the 893 million shares in the previous session. Analysts suggest that the index may encounter resistance at the previous high of 95,308, with potential gains extending to 96,046 if this level is surpassed. Conversely, support is expected between 94,640 and 94,980, with a drop below these levels possibly triggering a corrective phase.

According to JS Global, momentum indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator are in overbought territory, indicating limited upside potential. A cautious approach is advised at current levels, with immediate support at 94,641 and resistance at 95,329.

In specific stock movements, HBL closed above its 30-day moving average. The recommended strategy is to 'buy on dips' with target prices of Rs141.85 and Rs148.52, and a stop-loss at Rs134.27. Meanwhile, SNGP is also anticipated to see an upside, with a similar 'buy on dips' strategy targeting Rs93.90 and Rs96.50, and a stop-loss at Rs86.95. These insights were shared through JS Global's analysis, as communicated via their research channel.