Karachi: The KSE-100 index demonstrated an upward trend, closing at 178,262 points, which marks an increase of 7,241 points in the recent trading session. Trading volumes surged to 1,032 million shares compared to 580 million shares in the previous session. The index's movement above the 50-day moving average (DMA) suggests potential support at the 174,800 level, while resistance is anticipated at the 30-DMA level of 178,935 points.

According to JS Global, the KSE-100 index's technical indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator have shown upward movement, aligning with a recovery outlook. Investors are advised to adopt a 'Buy on dips' strategy, with risk management considered below the 50-DMA. The support and resistance levels are identified at 176,080 and 179,516 points, respectively.

In related market movements, Maple Leaf Cement Factory (MLCF) closed above the 50-DMA, with a strategy recommendation of 'Buy on dips' targeting Rs99.03 and Rs101.17, and a stop-loss set at Rs94.35. Pakistan Petroleum Limited (PPL) is also expected to recover, with a similar 'Buy on dips' strategy targeting Rs226.54 and Rs232.16, and a stop-loss at Rs216.30.