Karachi: The KSE-100 index recorded a significant increase, closing at 104,559, with a rise of 1,284 points. Trading volumes reached 1,766 million shares, surpassing the previous session’s 1,556 million shares. Analysts suggest that if the upward trend persists, the next target will be 105,289, with the potential to climb to 106,314. Conversely, support is anticipated between 103,360 and 104,020, and a decline below this range could trigger a corrective phase.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator are currently in overbought territory. This suggests that investors should exercise caution at current levels and consider buying opportunities during any market dips. The current support and resistance levels are identified at 103,362 and 105,218, respectively.

Additionally, specific stocks like Pakistan State Oil (PSO) and Honda Atlas Cars Pakistan Limited (HCAR) are identified for potential gains. The recommended strategy for both stocks is 'buy on dips', with target prices for PSO at Rs305.87 and Rs318.12, and for HCAR at Rs278.20 and Rs286.76. The stoploss levels are set at Rs297.98 for PSO and Rs267.71 for HCAR, providing guidance for investors seeking to capitalize on these movements.