Karachi: The KSE-100 index, a benchmark for the Pakistan Stock Exchange, concluded the trading session with a substantial gain of 1,537 points, closing at 116,390. This rise was supported by an increase in trading volumes, reaching 485 million shares, up from 459 million in the previous session.

The index's performance marked a significant achievement as it closed above the 30-day moving average (DMA), providing a support level at 115,535, followed by 114,357, which is aligned with the 50-DMA. Analysts suggest that while there is potential for further upward movement, resistance is anticipated in the range of 116,500 to 117,300. A breakthrough above this resistance could target the 118,718 level.

Technical indicators, including the Relative Strength Index (RSI) and the Stochastic Oscillator, have shown improvement, reinforcing a positive sentiment in the market. Investment analysts are advising investors to 'buy on dips', with a stop-loss strategy set below the 30-DMA. The immediate support and resistance levels are identified at 115,593 and 116,840, respectively.

The outlook, provided by JS Global, is based on current technical analyses and market conditions. It highlights the strategic positions investors might consider in navigating the current market landscape.