Karachi: The KSE-100 Index closed at 130,344, marking an increase of 2,145 points from the previous day, as investor optimism continued to drive the market upward. Trading volumes slightly decreased to 1,026 million shares, compared to 1,033 million shares the day before.

Market analysts suggest that if the upward momentum persists, the index could aim for new targets at 132,134 and 133,412. However, any downward movement might find support between the 129,120 and 129,840 range, with a break below potentially signaling a corrective phase.

Technical indicators like the RSI and MACD are rising, indicating a positive market outlook. Nonetheless, experts caution that a short-term pullback within the current band remains possible. Investors are advised to adopt a 'Buy on dips' strategy, with a defined risk level set below 128,616. Current support and resistance levels are identified at 129,125 and 131,055, respectively.

In the broader market, specific stocks such as SNGP and PSO are drawing attention. SNGP is gaining momentum, with a recommended 'Buy on dips' strategy targeting Rs125.55 and Rs127.98, and a stop-loss at Rs117.52. Similarly, PSO is seen as having upside potential, with targets set at Rs391.00 and Rs410.30, and a stop-loss at Rs381.05.

The analysis and strategies are provided by JS Global, highlighting opportunities for investors amid the dynamic movements in the stock market.