Karachi: Pakistan’s stock market displayed strong performance as the KSE-100 index surged by 533 points, closing at 78,793. The index’s close above key technical indicators signals a bullish outlook, encouraging a strategic buying approach among investors.

According to JS Global, the KSE-100’s closure above the 30-day moving average (DMA) at 78,692 points provides a solid base that limits potential downsides. Further support is identified at the 50-DMA level of 78,173. The bullish momentum could accelerate if the index surpasses the recent high of 78,996 points, potentially targeting the 79,442 level with possibilities extending up to 80,871. The technical indicators, including the Relative Strength Index (RSI) and the Stochastic Oscillator, have improved, aligning with a positive market sentiment.

Investors are advised to adopt a ‘Buy on dips’ strategy with a stop-loss set below the 50-DMA, indicating a cautious yet optimistic approach to capitalizing on potential market gains. Key levels to watch include support at 78,492 and resistance at 79,045 points.

In individual stock strategies, OGDC and ATRL are highlighted for their steady uptrends, with specific targets set for potential gains. For OGDC, a buying strategy is recommended with targets at Rs137.29 and Rs141.11, and a stop-loss at Rs131.66. ATRL also exhibits strong technical positioning, having closed above both the 30-DMA and 50-DMA, with buying targets at Rs366.81 and Rs373.50, and a stop-loss at Rs352.55.