Karachi: The KSE-100 index exhibited a notable upward movement, closing at 165,811 points, marking an increase of 14,138 points from the previous day. Trading volumes also saw a significant rise, reaching 1,245 million shares compared to the 357 million shares traded earlier.

According to JS Global, the index is poised to test resistance at the 165,924 level, with potential targets set at 167,576 and 173,112 points if it breaks above this threshold. On the downside, support is anticipated between 161,930 and 164,900 points. The RSI and MACD indicators have improved, suggesting a recovery. Investors are advised to 'Buy on dips' with a defined risk below the 161,930 level. Current support and resistance levels are identified at 163,870 and 166,838 points, respectively.

In related market strategies, PSO is showing a bullish 'Hammer formation', and investors are encouraged to 'Buy on dips' with targets of Rs380.30 and Rs394.50, maintaining a stop-loss at Rs359.91. Similarly, for HCAR, indicators are trending upwards with a 'Buy on dips' strategy targeting Rs178.50 and Rs188.57, and a stop-loss set at Rs168.00.