Karachi: The KSE-100 index continued its upward trajectory, closing at 164,831 points, marking an increase of 1,935 points from the previous day. Trading volumes slightly decreased to 386 million shares compared to 392 million shares in the previous session. Analysts anticipate the index will test resistance at the 165,082 level, with potential to reach the 30-day moving average at 167,784 points. However, any decline is expected to find support at 162,895, followed by the 50-day moving average at 161,596 points.

According to JS Global, the Relative Strength Index and the Stochastic Oscillator have shown upward movement, suggesting a recovery. Investors are advised to 'buy on dips' with a stoploss set below the 50-day moving average. Current support and resistance levels are identified at 163,457 and 165,644 points, respectively.

In the banking sector, UBL is projected to maintain a steady upward trend. The recommended strategy is to 'buy on dips,' targeting price levels of Rs391.15 and Rs397.38, with a stoploss at Rs380.00. Meanwhile, ATRL has closed above the 30-day moving average, with a similar 'buy on dips' strategy targeting Rs914.22 and Rs927.92, and a stoploss at Rs892.00.