Karachi: The stock market experienced a bullish trend as the KSE-100 index climbed by 579 points, finishing at 85,840. The trading volume was recorded at 422 million shares, a slight decrease from the 478 million shares traded in the previous session. Investors are now eyeing the all-time high mark of 86,451, with further ambitions for reaching 86,937.

According to JS Global, the index could see a significant milestone if it surpasses the expected high. Technical indicators reveal a mixed picture: while the Relative Strength Index (RSI) shows improvement, the Stochastic Oscillator is on a downward trend, suggesting a neutral outlook. Market analysts advise caution, recommending that investors wait for price dips before buying. The noted support range is between 85,160 and 85,530, with crucial resistance at 86,204. A fall below the support levels might trigger a corrective phase in the market.

In individual stock news, Honda Cars (HCAR) closed above its key moving averages, with a buying strategy suggested at dips aiming for targets of Rs270.34 and Rs277.23 and a stop loss at Rs254.61. Habib Bank Limited (HBL) also displayed positive momentum, resuming its uptrend with similar strategic advice for targeting Rs139.31 and Rs141.99, placing a stop loss at Rs134.61.