Karachi: The KSE-100 index demonstrated a continued recovery, closing with a gain of 1,632 points at 113,010, surpassing the 50-day moving average (DMA). Trading volumes also saw an increase, reaching 487 million shares compared to 415 million in the previous session.

According to a statement by JS Global, the KSE-100 index's close above the 50-DMA now provides a support level at 112,578. The index's performance signals a potential upward trend, with a break above the previous high of 113,233 likely targeting the 30-DMA at 113,975. Indicators such as the RSI and Stochastic Oscillator are trending upward, reinforcing the recovery outlook.

Investors are advised to 'Buy on Dips,' with a stop-loss set below the 50-DMA. Immediate support and resistance levels are identified at 112,151 and 113,551, respectively, offering strategic points for investors to consider.

In related market movements, HCAR's moving averages suggest limited downside, with a 'Buy on Dips' strategy targeting Rs314.99 and Rs323.65, and a stop-loss at Rs305.14. Meanwhile, SNGP has generated a buy signal, with targets set at Rs95.05 and Rs100.06, and a stop-loss at Rs88.55.