Karachi: The KSE-100 Index surged past the psychological milestone of 156,000 points, closing at 156,087, driven by a strong bullish trend. The index gained 1,810 points, and trading volumes increased to 1,126 million shares from 1,078 million shares in the previous session.

Market analysts suggest that if the current upward momentum persists, the index could initially target 156,862, with potential growth extending to 157,818. However, should the index fall, support is anticipated between 154,945 and 155,750, with a breach of this range likely to initiate a corrective phase.

Technical indicators, including the RSI and MACD, are trending upwards, reinforcing the positive market outlook. Analysts recommend a 'Buy on dips' strategy, advising investors to manage risk below the 154,945 level. Current support and resistance levels are identified at 155,288 and 156,543, respectively.

In individual stock movements, Pakistan State Oil (PSO) is showing momentum towards recent highs. The recommended strategy for PSO is 'Buy on dips,' targeting prices of Rs429.00 and Rs438.19, with a stop-loss set at Rs408.00.

Sui Northern Gas Pipelines Limited (SNGP) displayed a bullish candle, prompting a 'Buy on dips' strategy as well, with target prices set at Rs136.98 and Rs140.75, and a stop-loss at Rs129.54.

These insights were provided by JS Global, highlighting the current positive sentiment in the Pakistani stock market as investors anticipate continued growth.