Karachi: The KSE-100 index exhibited an upward trend on Friday, closing at 167,191 points, marking an increase of 1,674 points. Trading volumes recorded 876 million shares, slightly lower than the previous 889 million shares. The index is anticipated to encounter resistance at the 168,290 level, with a potential target of 173,112 if surpassed. Conversely, support levels are identified between 164,845 and 166,225, indicating possible stability in case of a downturn.
According to JS Global, technical indicators such as the RSI and the MACD suggest a continuing positive trend, prompting a recommendation for investors to 'buy on dips' with a stop-loss set below the 50-day moving average at 164,845. Further support and resistance levels are noted at 166,178 and 168,247, respectively. In separate analyses, consolidation is expected for PSO above the 30-day moving average, with a buy strategy targeting Rs369.90 and Rs380.30, and a stop-loss at Rs359.28. HCAR shows momentum, with a buy strategy targeting Rs185.44 and Rs190.54, and a stop-loss at Rs172.00.