Karachi: The KSE-100 index closed sharply higher in a bullish trading session, registering a significant gain of 1,751 points to settle at 88,946. Trading volumes also increased, with 758 million shares changing hands, up from 699 million in the previous session.

According to JS Global, the positive momentum in the market could see the KSE-100 break above the recent high of 89,126. If it surpasses this level, the next target is set at 89,436, potentially extending to 90,025. However, the firm noted that while the market trend remains upward, a short-term pullback is possible due to the index trading above the upper Bollinger band. Investors are advised to remain cautious at higher levels and consider buying on dips. The support and resistance levels were identified at 87,843 and 89,587 respectively.

In individual stock news, Oil and Gas Development Company (OGDC) closed above its recent high, prompting JS Global to recommend a ‘Buy on dips’ strategy with a target price of Rs179.34 and Rs181.96, and a stoploss at Rs169.20. Similarly, DG Khan Cement (DGKC) displayed a ‘rising window’ pattern indicating further upside, with the strategy suggesting buying on dips targeting Rs86.50 and Rs89.69, and setting a stoploss at Rs83.51.