Karachi: The KSE-100 index, a benchmark for the Pakistan Stock Exchange, closed at 175,286, marking an increase of 1,767 points from the previous day. Trading volume reached 584 million shares, a decrease from the 913 million shares traded earlier. The market is anticipated to test resistance at the 30-day moving average (DMA) of 177,597, with potential for an uptrend if this level is surpassed. Conversely, support is expected at the 50-DMA of 173,645, with a further decline potentially targeting 171,742. Technical indicators present a mixed outlook for investors.

According to JS Global, the Relative Strength Index has shown improvement, while the Moving Average Convergence Divergence is trending downward, suggesting a neutral view of the market. Investors are advised to exercise caution and consider purchasing during market dips. Current support and resistance levels are at 173,870 and 176,701, respectively.

In stock-specific strategies, Attock Refinery Limited (ATRL) is projected to have its downside limited by moving averages, with a 'buy on dips' strategy targeting Rs899.87 and Rs912.00, and a stop-loss at Rs885.92. Meanwhile, Maple Leaf Cement Factory Limited (MLCF) is expected to experience a recovery, with suggested targets of Rs98.15 and Rs99.62, and a stop-loss at Rs92.74.