Karachi: The KSE-100 index marked a significant recovery, closing at 165,476 points, reflecting a daily increase of 7,033 points. Trading volumes, however, decreased to 1,180 million shares from the previous 1,366 million.

The index is poised to challenge the resistance level of 165,869, with a potential climb to 167,354 and an all-time high of 169,989 should it break through. On the downside, support is anticipated between 162,240 and 164,050 points.

Technical indicators such as the RSI and Stochastic Oscillator have shown a reversal, suggesting a favorable outlook. Investors are advised to 'buy on dips' with a stop-loss set below 162,243 points. Key support and resistance levels stand at 162,243 and 167,288, respectively.

In other market movements, DG Khan Cement (DGKC) closed above its 30-day moving average, prompting a 'buy on dips' strategy with targets of Rs252.88 and Rs258.28, and a stop-loss at Rs245.25.

Similarly, Oil and Gas Development Company Limited (OGDC) has generated a buy signal, with a 'buy on dips' strategy targeting Rs269.78 and Rs273.22, and a stop-loss at Rs261.15.

The analysis and recommendations come from JS Global, indicating cautious optimism in the market's trajectory.