Karachi: The KSE-100 index displayed a positive trajectory on Friday, closing at 170,672, an increase of 1,499 points. Trading volumes were recorded at 1,192 million shares compared to 1,322 million shares in the previous session. The index is anticipated to challenge the resistance level at 171,641, with a potential to reach the recent high of 175,298, and possibly rising further to 179,280. Meanwhile, support is expected between 167,480 and 169,570 levels, though indicators remain mixed, offering no definitive trading perspective. Investors are advised to consider a 'buy on dips' approach, maintaining a stoploss below 166,380. Support and resistance are positioned at 167,488 and 172,749, respectively.

According to JS Global, Pakistan State Oil (PSO) is gradually advancing, with a recommended strategy of 'buy on dips', targeting prices of Rs401.00 and Rs420.09, with a stoploss at Rs384.50. United Bank Limited (UBL) is also expected to continue its upward trend, with a similar 'buy on dips' strategy suggested, targeting Rs425.75 and Rs440.48, and a stoploss set at Rs398.72.