Karachi: The KSE-100 index continued its upward trajectory, closing at 94,996 with an increase of 232 points day-over-day. Despite the positive session, trading volumes decreased to 765 million shares from the previous session's 893 million shares. The market anticipates resistance at the previous high of 95,308, with the potential for gains extending to 96,046 if this level is surpassed. Support is expected between 94,640 and 94,980; a breach below this range could signal a corrective trend.

According to JS Global, momentum indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator suggest that the market is overbought, indicating limited upside potential. Investors are advised to exercise caution at the current levels, with immediate support identified at 94,641 and resistance at 95,329.

In the stock-specific recommendations, HBL has closed above its 30-day moving average, with a strategy of 'buy on dips' targeting Rs141.85 and Rs148.52, and a stop-loss at Rs134.27. Meanwhile, SNGP is also expected to see an upside, with a similar 'buy on dips' strategy targeting Rs93.90 and Rs96.50, and a stop-loss at Rs86.95.