Karachi: The KSE-100 index experienced a significant gain, rising by 3,373 points to close at 182,408, as bullish sentiment prevailed in the market. Trading volumes also increased, with 1,384 million shares exchanged compared to 1,113 million shares in the previous session.

The market outlook suggests potential for further upward movement, with the index poised to test resistance at 183,964, a level reached the previous day. A breakthrough at this resistance could see the index targeting 186,875. Conversely, any downward movement may encounter support between the 179,535 and 181,970 levels.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are trending upwards, reinforcing the positive market view. Investors are advised to consider a 'buy on dips' strategy, keeping an eye on potential risks below the 179,535 support level. Current support and resistance levels are identified at 179,974 and 184,403, respectively.

In related market activity, International Steels Limited (ISL) is expected to maintain a steady uptrend. The recommended strategy is to 'buy on dips', with targets set at Rs116.20 and Rs123.00, and a stop-loss at Rs111.91.

Similarly, the Bank of Punjab (BOP) is undergoing post-breakout consolidation. Investors are encouraged to 'buy on dips', aiming for targets of Rs44.17 and Rs45.43, with a stop-loss at Rs42.60.

These insights are provided by JS Global, offering a comprehensive technical analysis of the current market conditions.