Karachi, The Karachi Stock Exchange (KSE-100) index is edging closer to its recent peak, demonstrating sustained positive momentum by closing up 381 points at 65,906. This uptick comes alongside an increase in trading volumes, setting the stage for the index to potentially challenge its all-time high in the near future. Technical indicators such as the Relative Strength Index (RSI) and Stochastic Oscillator have shown improvements, further bolstering the optimistic outlook for the market.

According to JS Global, the KSE-100 index is poised to test its resistance level at the recent high of 66,196. A breakthrough above this threshold could pave the way towards the all-time high of 67,094. Conversely, should the index experience a downturn, it is expected to find support within the 65,490 to 65,610 range, with a potential extended decline towards 64,750 if these levels are breached. Investors are advised to adopt a 'Buy on dips' strategy, maintaining caution with a defined risk below 65,493. The outlined support and resistance levels stand at 65,603 and 66,100, respectively.

The report also highlights specific opportunities within the market, including a buy signal for MLCF with targets at Rs36.16 and Rs37.47, and a stop loss at Rs34.63. Similarly, ENGRO is identified for its upside potential, with recommended targets at Rs345.63 and Rs349.08, and a stop loss set at Rs335.50. These strategies are indicative of the current bullish sentiment and provide actionable insights for investors looking to capitalize on the positive market trajectory.

This analysis signals a robust confidence in the market's direction, encouraging investment strategies that leverage the anticipated upward trends. As the KSE-100 index navigates towards historic highs, the market remains a focal point for investors seeking to benefit from Pakistan's economic dynamics.