Karachi: The KSE-100 index experienced a significant upswing, gaining 2,082 points to close at 187,455, as bulls continue to steer the market. Trading volumes increased to 888 million shares, up from 816 million previously. If the current trend persists, the index is expected to aim for a record high of 191,033, potentially reaching higher levels of 193,723 and 195,899. Conversely, support is anticipated between 185,910 and 186,970 in case of a downturn.

According to JS Global, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are trending upwards, reinforcing a favorable outlook. Investors are advised to adopt a 'buy on dips' strategy, with a stop-loss set below the 185,910 level. The report identifies support and resistance levels at 186,395 and 188,030, respectively.

In related market movements, ISL closed above its 200-day moving average, with a recommended strategy of 'buy on dips' targeting Rs100.49 and Rs102.80, and a stop-loss at Rs94.32. HBL is also gaining momentum, with targets set at Rs326.22 and Rs332.50, and a stop-loss at Rs307.00.