Karachi: The KSE-100 index witnessed an upward trend, closing at 161,211, marking an increase of 5,433 points from the previous day's close. Trading volumes also rose, with 724 million shares exchanging hands compared to 623 million shares previously. The index's close above the 200-day moving average (DMA) suggests a restricted downside at the 156,695 level, with potential gains if the index surpasses 161,477.

According to JS Global, the index may continue its recovery, with the Relative Strength Index showing improvement and the Stochastic Oscillator generating a buy signal. Investors are advised to 'buy on dips' while keeping a stop-loss below the 200-DMA. Support and resistance are identified at 157,815 and 163,042 levels, respectively.

In specific stocks, Pakistan State Oil (PSO) formed a bullish candle, with a strategy recommendation to 'buy on dips' targeting Rs401.00 and Rs416.20, with a stop-loss at Rs365.50. Meanwhile, United Bank Limited (UBL) is consolidating above the 200-DMA, with a 'buy on dips' strategy targeting Rs421.89 and Rs431.76, and a stop-loss at Rs407.75.