Karachi: The KSE-100 index demonstrated a robust recovery as it closed at 164,467, marking an increase of 1,429 points from the previous day. Trading volumes also saw an uptick, reaching 402 million shares compared to the prior session's 376 million shares. The index is projected to challenge resistance at 164,788, with further targets at 165,648 and the 30-day moving average of 167,567. However, potential declines could find support between the 163,550 and 164,270 levels.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have risen, reinforcing the recovery outlook. The firm advises investors to 'buy on dips', with a risk threshold set below the 163,545 level. The support and resistance are noted at 163,746 and 164,988 levels, respectively.

In individual stock performance, Oil and Gas Development Company (OGDC) is anticipated to continue its steady recovery. Investors are advised to 'buy on dips', aiming for price targets of Rs305.28 and Rs309.35, with a stop-loss at Rs295.51. Similarly, Honda Atlas Cars Pakistan Limited (HCAR) generated a buy signal, with recommendations to 'buy on dips' targeting Rs205.96 and Rs210.03, accompanied by a stop-loss at Rs195.30.