Karachi: The KSE-100 index of the Pakistan Stock Exchange experienced an upward trend, closing at 167,193 points, marking an increase of 1,457 points on a day-over-day basis. The trading volume reached 817 million shares, a significant rise from the previous 578 million shares traded, indicating increased market activity.

According to JS Research, the index is anticipated to test resistance at the 167,483 level, which was the high from the previous day. If the index breaks above this level, it is projected to target the 50-day moving average at 169,930, followed by 171,595 at the 200-day moving average. Conversely, any downward movement is expected to find support between 165,285 and 166,240. A decline below these levels could resume the downtrend. The Relative Strength Index (RSI) and the Stochastic Oscillator are both showing upward movement, supporting a positive outlook. Investors are advised to 'Buy on dips' with a stop-loss set below 164,355. The current support and resistance levels are 166,239 and 167,815, respectively.

In related market strategies, ISL is expected to continue its steady recovery, with a 'Buy on dips' strategy targeting Rs78.10 and Rs81.25, and a stop-loss at Rs73.00. HBL is also showing potential for upside movement, with a 'Buy on dips' strategy targeting Rs299.83 and Rs302.80, with a stop-loss at Rs287.30.