Karachi: The KSE-100 index witnessed a significant upward movement, closing at 171,705 points, marking an increase of 6,962 points. Trading volumes also rose notably to 1,202 million shares, compared to 453 million previously. The index is anticipated to target its recent high of 175,298, with a potential to reach 180,992 if it surpasses that level.

According to JS Global, this positive outlook is supported by indicators such as the Stochastic Oscillator and the RSI, which are both trending upwards. The report suggests a strategy of 'Buy on dips' for investors, recommending a stoploss below the 167,354 level. Key support and resistance levels are identified at 168,677 and 173,410, respectively.

In related developments, UBL is resuming its uptrend with a 'Buy on dips' strategy targeting Rs420.47 and Rs434.11, while OGDC is aiming for an all-time high, with targets set at Rs337.10 and Rs343.98. Both strategies include respective stoploss levels at Rs399.68 for UBL and Rs318.00 for OGDC.