Karachi: The KSE-100 index experienced an upward trend on Friday, closing at 159,593, an increase of 496 points from the previous day. The trading volume, however, saw a decline, registering 769 million shares compared to 957 million the day before. The index is anticipated to challenge the 50-day moving average (DMA) resistance at the 160,520 level. A breakthrough could lead to targeting the 30-DMA at 163,554. Conversely, support is expected between the 158,240 and 159,010 range. Current momentum indicators provide no definitive trading stance, urging investors to exercise caution on the upside. The current support and resistance levels are at 158,920 and 160,350 respectively.

In corporate news, DGKC's price has stabilized, and a recovery is anticipated. The recommended strategy is 'buy on dips', targeting Rs220.01 and Rs226.10, with a stop-loss set at Rs210.16.

For Pakistan Petroleum Limited (PPL), the advised approach is 'buy on dips', aiming for Rs191.56 and Rs195.95, with a stop-loss at Rs181.50.

This information is sourced from JS Global, indicating a cautious but optimistic outlook for the market and specific stocks.