Karachi: The KSE-100 index experienced a notable recovery, closing at 178,853 points with an increase of 5,703 points from the previous day. Trading volumes were recorded at 698 million shares, slightly down from 716 million shares traded earlier. The index is anticipated to test its resistance at the 50-day moving average (50-DMA) of 179,699. A breakthrough at this level could see the index aiming for the 30-day moving average (30-DMA) at 184,064. In the event of a downturn, support is expected between 175,800 and 177,385 points.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator have both advanced, suggesting a recovery trend. Investors are advised to 'buy on dips', with risk management below the 175,796 level. The current support and resistance levels are noted at 175,796 and 180,442, respectively.

Specific stock strategies include a 'buy on dips' approach for Bank of Punjab (BOP), targeting prices of Rs37.05 and Rs39.24 with a stop-loss at Rs34.15. Similarly, for DG Khan Cement (DGKC), a continued steady recovery is anticipated with targets set at Rs226.18 and Rs231.61 and a stop-loss at Rs214.00.