Karachi: The KSE-100 index demonstrated a consistent upward trend, registering a gain of 34 points to close at 78,898. Trading volumes reached 743 million shares, showing a slight decrease from 771 million shares in the previous session. The market is poised to challenge its recent high of 79,254, potentially pushing towards new targets.

According to JS Global, the index is expected to break past the recent high of 79,254, which could open the door to reaching 79,422 and possibly extending up to 80,031. Conversely, any pullbacks are anticipated to find solid support at the 50-day moving average of 78,785 and the 30-day moving average of 78,178. The technical indicators, including the Relative Strength Index and the Stochastic Oscillator, are also showing an increase, which supports the current positive market sentiment. Investors are advised to buy on dips, with a clearly defined risk below the 30-day moving average. The stated support and resistance levels to watch are 78,792 and 79,129, respectively.