Karachi: The KSE-100 index experienced a positive shift on Friday, closing at 172,401 points, marking an increase of 1,571 points. Trading volumes reached 798 million shares, slightly down from the previous 812 million shares. Analysts predict that the index may re-test resistance at the recent high of 172,583, with potential to reach targets of 173,031 and 175,883 points.

The market's upward trajectory is supported by technical indicators, as both the Stochastic Oscillator and the Relative Strength Index (RSI) point towards a continued positive trend. Investors are encouraged to 'Buy on dips', with a risk threshold set below 171,146 points.

Support for the index is anticipated between 171,150 and 171,500 points, while resistance is expected at 172,940 points. In specific stocks, Pakistan Petroleum Limited (PPL) is targeting recent highs, with a strategy to 'Buy on dips' aiming for Rs232.10 and Rs238.36, maintaining a stoploss at Rs220.50.

Meanwhile, Habib Bank Limited (HBL) is expected to continue its consolidation phase. Investors are advised to 'Buy on dips', targeting Rs325.00 and Rs332.10, with a stoploss set at Rs315.10. These insights are provided by JS Global.