Karachi: The KSE-100 index of the Pakistan Stock Exchange closed up 1,377 points at 170,331, reflecting a positive movement with trading volumes reaching 767 million shares. The index is anticipated to encounter resistance between the 170,530 and 171,310 levels, with a potential breakthrough targeting the recent high of 174,172. Support is identified at the 168,476 mark, followed by 166,264.

According to JS Global, the Relative Strength Index (RSI) has improved, while the Moving Average Convergence Divergence (MACD) is declining, supporting a neutral view of the market. The advisory is to 'Buy on dips', maintaining a stoploss below the 30-day moving average. Current support and resistance are marked at 170,046 and 170,819, respectively.

The press release further highlights investment strategies for specific stocks. For Pakistan State Oil (PSO), a consolidation phase is likely, with a 'Buy on dips' strategy targeting Rs353.98 and Rs358.36, and a stoploss set at Rs344.76. For NETSOL Technologies, support is noted at the 200-day moving average, with a 'Buy on dips' strategy targeting Rs133.63 and Rs138.90, and a stoploss at Rs128.89.