Karachi: The KSE-100 index experienced a positive trading session, ending at 133,370, marking a day-on-day increase of 1,421 points. Trading volumes reached 920 million shares, up from 733 million in the previous session. Analysts anticipate the index may retest its recent high of 133,862, with a potential upward trajectory towards 135,232 and possibly reaching 137,549. On the downside, support levels are identified between 132,460 and 132,610.
The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are trending upwards, suggesting a continued positive outlook. Investors are advised to 'Buy on dips,' with a risk threshold set below 130,716. Support and resistance levels are established at 132,604 and 133,999, respectively.
Among individual stocks, DG Khan Cement (DGKC) is resuming its uptrend, with a strategic recommendation to 'Buy on dips,' targeting price points of Rs168.55 and Rs171.00, with a stop-loss at Rs160.90.
Similarly, NETSOL is moving towards its recent high, with a 'Buy on dips' strategy targeting Rs165.52 and Rs168.60, and a stop-loss set at Rs156.20.