Karachi: The KSE-100 index exhibited a potential for recovery after hitting a low of 164,060, closing at 165,418, which marked an increase of 641 points on a day-over-day basis. Trading volumes also saw a significant rise, reaching 586 million shares compared to the previous 384 million. Analysts suggest that a short-term recovery may persist with the next target levels identified at 166,133 and potentially extending to 167,414.

According to JS Global, the market's relative strength index (RSI) has shown improvement, although the moving average convergence divergence (MACD) indicates a neutral outlook. Investors are advised to consider buying for trading gains, with a risk threshold set below 164,060. Support and resistance are currently positioned at 164,442 and 166,011, respectively.

In addition to the broader market outlook, specific stocks such as Oil and Gas Development Company (OGDC) and International Steels Limited (ISL) are also expected to recover. The recommended strategy for OGDC is to 'buy on dips,' aiming for target prices of Rs303.96 and Rs306.73, with a stoploss at Rs295.01. Similarly, ISL is advised as a 'buy on dips' with target prices of Rs79.90 and Rs81.68, and a stoploss at Rs75.44.