Karachi: Bulls dominated the session as the benchmark KSE-100 index surged by 2,328 points, closing at 124,353. This significant upswing was accompanied by trading volumes reaching 1,041 million shares, a notable increase from the 593 million shares traded previously.

Market analysts suggest that if the upward momentum continues, the KSE-100 index could target the 125,947 mark, with potential to rise further to 128,026. On the downside, support is anticipated within the 123,240 to 123,530 range. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are on the rise, maintaining a positive outlook for the market.

Investment strategists recommend a 'Buy on dips' approach, advising investors to maintain a stoploss below the 123,238 level. Current support and resistance levels are identified at 123,531 and 124,881, respectively.

In related developments, the Oil and Gas Development Company (OGDC) closed above its 50-day moving average, prompting a strategy of 'Buy on dips', with a target range of Rs217.10 to Rs219.99, and a stoploss at Rs211.31.

Meanwhile, Maple Leaf Cement Factory Limited (MLCF) is showing a bullish RSI, with recommendations to 'Buy on dips', targeting Rs90.33 and Rs94.99, and a stoploss set at Rs78.30.

These insights were provided by JS Global, highlighting the current favorable conditions for investors in the Pakistan market.