Karachi: The KSE-100 index continued its upward trajectory, closing at 169,912 points, marking an increase of 1,392 points from the previous day. Trade volumes, however, saw a decrease with 973 million shares exchanged compared to the previous day’s 1,206 million. Market analysts suggest that consolidation may occur in the coming sessions, with potential targets set at 173,112 and 179,280 points should the gains persist. The index is expected to find support between 167,950 and 168,950 points in the event of a downturn.

According to JS Global, both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are on the rise, indicating a positive market outlook. The firm recommends a ‘Buy on dips’ strategy for investors, advising a stoploss below the 167,960 level. Current support and resistance levels are identified at 168,935 and 170,894 points, respectively.

In other market movements, International Steels Limited (ISL) closed above the 50-day moving average, with a suggested ‘Buy on dips’ strategy targeting Rs88.16 and Rs92.03, and a stoploss at Rs82.00. United Bank Limited (UBL) is also expected to maintain its steady uptrend, with targets set at Rs387.00 and Rs396.12, and a stoploss at Rs373.00.