Karachi: The KSE-100 Index experienced significant gains as it climbed 1,348 points to close at 121,799, marking a strong day for the market. Trading volumes increased to 711 million shares, a rise from the previous 578 million shares, indicating heightened investor activity.

Market analysts suggest that if the index surpasses 121,882, the upward momentum will likely continue with targets set at 123,375 and 125,947. Meanwhile, support is noted between 120,900 and 121,170, with a decline below this range potentially initiating a corrective phase.

Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are trending upward, supporting a positive market outlook. Investors are advised to 'buy on dips,' with a stop-loss set below the 120,896 mark. Key support and resistance levels have been identified at 121,169 and 122,155, respectively.

In specific stock strategies, ISL maintains an upside target, with recommendations to 'buy on dips' aiming for Rs94.00 and Rs98.76, and a stop-loss at Rs90.01. Similarly, HBL is noted for a higher high and higher low, with a strategy to 'buy on dips' targeting Rs165.90 and Rs170.76, and a stop-loss at Rs160.51.