Karachi: The KSE-100 index reached a record high, closing at 187,762 points, marking a significant increase of 2,663 points in a single session. Trading volumes surged to 1,199 million shares, up from 960 million shares in the previous session. If the upward trend continues, the index is expected to target 190,699 points and potentially rise to 192,426 points. Any decline is anticipated to find support between 186,120 and 187,260 points.

According to JS Global, technical indicators such as the RSI and MACD have improved, suggesting a positive outlook for the market. Investors are advised to adopt a 'Buy on dips' strategy, with a stop-loss set below the 186,127 level. Key support and resistance levels are identified at 186,632 and 188,387 points, respectively.

In sector-specific updates, Maple Leaf Cement Factory (MLCF) is expected to recover, with a 'Buy on dips' strategy targeting Rs121.38 and Rs125.81, and a stop-loss at Rs116.26. Meanwhile, Attock Refinery Limited (ATRL) is showing a pattern of higher highs and higher lows, with recommendations to buy on dips targeting Rs804.13 and Rs813.50, and a stop-loss at Rs766.00.