Karachi: The KSE-100 index witnessed a significant rise, closing at 78,848, which is an increase of 492 points from the previous day. Trading volumes also soared, reaching 970 million shares, up from 437 million shares in the last session. This performance places the index well above the 50-day moving average (DMA), a sign often interpreted as predicting further upward movement.

According to JS Global, the index has established new support and resistance levels amidst this positive trend. Analysts are pointing towards an upcoming target of 79,442, with potential to climb as high as 80,031. On the downside, support is found between 78,480 and 78,760, with further cushioning near the 30-DMA at 78,182. Technical indicators such as the Relative Strength Index (RSI) and Stochastic Oscillator are also trending upward, reinforcing the optimistic outlook.

Investment strategies are being adjusted in response to the momentum, with recommendations to ‘Buy on dips’ and maintain risk management strategies below the 30-DMA. Current support is pegged at 78,594, while resistance hovers around 78,996, setting clear benchmarks for traders and investors navigating the market.