KARACHI: Bulls dominated the Pakistan Stock Exchange as the KSE-100 index posted significant gains, closing up 2,572 points at 128,199. Trading volumes were recorded at 1,033 million shares, slightly lower than the previous session's 1,145 million shares.

The technical outlook reveals the formation of a higher high and higher low, signaling a potential upside. The next target for the index is identified at 129,274, with a further rise to 132,134 anticipated. In case of a downturn, support levels are projected between 126,710 and 127,600.

Indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are trending upwards, reinforcing a positive market view. Analysts recommend a 'buy on dips' strategy, advising investors to maintain a stoploss below 126,113. Current support and resistance levels are at 126,717 and 129,079, respectively.

In specific stock movements, NETSOL closed above the 200-day moving average. The recommended strategy is to 'buy on dips,' with a target price range of Rs152.78 to Rs157.06 and a stoploss at Rs141.87.

For Pakistan State Oil (PSO), analysts note a limited downside risk. The advised strategy remains 'buy on dips,' with target prices set at Rs383.50 and Rs391.00, and a stoploss at Rs372.58.

These insights were provided by JS Global, highlighting a cautiously optimistic outlook for the market.