Karachi: The KSE-100 index is set for a continued upward trajectory after closing at 78,987, marking an increase of 448 points day-on-day. Trading volumes were recorded at 316 million shares, slightly down from the previous session’s 376 million.
According to JS Global, the benchmark index is expected to revisit its recent high of 79,585. A successful break above this level could see the index aiming for 80,172, and potentially reaching as high as 81,183. Conversely, any declines are likely to be cushioned at 78,634, with additional support near the 30-day moving average of 78,106.
Mixed signals from momentum indicators suggest an ambiguous short-term trading outlook, prompting recommendations for investors to buy on dips while maintaining a stop-loss order below the 30-day moving average. The defined support and resistance levels stand at 78,552 and 79,504, respectively.