Karachi: The KSE-100 index experienced upward movement on Monday, closing at 171,725 points, marking an increase of 3,881 points. Trading volumes also rose, with 506 million shares exchanged compared to the previous 481 million shares.

According to JS Global, the index surpassed the 30-day moving average (DMA), which now sets a downside limit at 168,103, followed by the 200-DMA at 165,354. The report suggests that surpassing the 171,920 mark could propel the index towards 173,275, with further resistance anticipated at 177,729. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators have shown upward movement, offering a positive outlook on the market. Investors are advised to 'buy on dips' while maintaining a stop-loss below the 30-DMA level. Current support and resistance levels are identified at 170,618 and 172,377, respectively.

Additionally, JS Global's report highlights specific strategies for United Bank Limited (UBL) and Maple Leaf Cement Factory (MLCF). For UBL, the recommendation is to 'buy on dips', targeting Rs423.75 and Rs436.20, with a stop-loss at Rs401.49. MLCF is also gaining momentum, with targets set at Rs92.10 and Rs96.41, and a stop-loss at Rs86.42.