Karachi: The KSE-100 index of Pakistan's stock market closed at 160,658, marking a notable increase of 2,474 points from the previous day. Trading volumes rose to 797 million shares, up from 757 million in the prior session. The index is approaching resistance at the 50-day moving average (DMA) of 161,168, with potential to target the 30-DMA at 162,714. In the event of a decline, support is anticipated between 159,430 and 160,200. The Relative Strength Index (RSI) and Stochastic Oscillator indicate a positive trend, prompting recommendations to 'Buy on dips' with a risk threshold set below 158,971. Support and resistance levels are identified at 159,438 and 161,410, respectively.

In specific stock outlooks, Oil and Gas Development Company (OGDC) is expected to recover, with a 'Buy on dips' strategy targeting Rs246.49 and Rs251.61. A stop-loss is advised at Rs238.20. Meanwhile, Attock Refinery Limited (ATRL) is predicted to trade within a range, with targets set at Rs682.94 and Rs692.49 and a stop-loss at Rs668.86. These strategic insights were provided by JS Global.