Karachi: The KSE-100 index has maintained its upward trajectory, closing at an impressive 149,971 points, marking a 1,353-point increase from the previous day. This significant rise has brought the index tantalizingly close to its all-time high, with market analysts optimistic about further gains.

Trading volumes, while slightly lower than the previous session, remained robust with 1,183 million shares exchanged. The index's movement has formed a higher high and higher low pattern, a bullish signal suggesting continued upward momentum. Should the index surpass the 150,066 threshold, it is expected to challenge the record peak of 151,262.

Despite the optimism, there are safety nets in place for potential downturns. Analysts suggest support levels will hold firm between 148,950 and 149,520 points, providing a cushion against market volatility. Technical indicators such as the RSI and the Stochastic Oscillator have also moved upwards, reinforcing the positive outlook.

Investors are advised to seize buying opportunities during market dips, with caution advised should the index fall below the 148,500 mark. Current support and resistance levels are cited at 148,959 and 150,525 points, respectively.

In stock-specific news, Pakistan Petroleum Limited (PPL) is anticipated to continue its upward trend, with strategic buy targets set at Rs181.98 and Rs184.65, and a stoploss at Rs177.10. Meanwhile, Habib Bank Limited (HBL) is also on a recovery path, with buy targets identified at Rs263.25 and Rs272.54, and a stoploss pegged at Rs250.00.

These developments, sourced from JS Global, underscore a buoyant market environment, with both the KSE-100 index and key stocks poised for further growth as investor confidence strengthens.