Karachi: The KSE-100 index experienced a steady upward trend, closing at 165,373 points, marking an increase of 2,185 points from the previous day. Despite a decrease in trading volume to 498 million shares from 636 million, the index is poised to potentially surpass its recent high of 165,611, aiming for a target of 168,414 and possibly the all-time high of 169,989.

Analysts note that any downward movement is likely to find support between 163,500 and 164,050 points, with a further decline targeting the 50-day moving average at 162,445 points. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are on the rise, suggesting a positive outlook for the market. Investors are advised to consider buying on dips, with a stop-loss set below the 50-day moving average.

In sector-specific news, Pakistan Petroleum Limited (PPL) continues to show an upward trend. The recommended strategy is to buy on dips with targets set at Rs211.33 and Rs214.37, and a stop-loss at Rs199.02.

For NETSOL Technologies, a buy signal has been generated. The suggested approach is to buy on dips, targeting Rs134.18 and Rs139.73, with a stop-loss at Rs125.00.

These insights and strategies are provided by JS Global, emphasizing a cautious yet optimistic approach toward current market conditions.