Karachi: The KSE-100 index demonstrated an upward trend, closing at 162,897 points, an increase of 1,092 points day-on-day, with trading volumes reaching 392 million shares, a decrease from the previous 500 million shares. The index is projected to test its resistance at the 200-day moving average (DMA) of 164,885 points, with potential to target 167,345 points (30-DMA) if the resistance is breached. Conversely, any decline will receive support at the 50-DMA of 161,450 points, with a potential downside target of 160,391 points.

According to JS Global, momentum indicators present a mixed outlook, providing no definitive trading perspective. Investors are advised to 'Buy on dips,' maintaining a stoploss below the 50-DMA level. The current support and resistance levels are 162,204 and 163,950 points, respectively. Additionally, United Bank Limited (UBL) closed above its 50-DMA, with a recommended strategy of 'Buy on dips,' targeting Rs388.81 and Rs397.38, with a stoploss at Rs376.49. Attock Refinery Limited (ATRL) generated a buy signal, with targets of Rs897.28 and Rs914.22, and a stoploss at Rs875.11.