Karachi: The KSE-100 Index of the Pakistan Stock Exchange reached a new milestone, closing at 136,503 points, marking an increase of 2,203 points from the previous day. This surge in the index reflects a continuation of bullish momentum in the market, supported by a significant rise in trading volumes to 841 million shares from 765 million shares in the prior session.

The index is poised to revisit the previous high of 136,841 points. Analysts suggest that surpassing this level could lead the index towards targets of 137,549, with an optimistic outlook extending to 140,105 points. On the downside, market support is anticipated to hold within the 135,350-136,100 point range.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have both shown upward movement, reinforcing the positive market outlook. However, experts advise investors to exercise caution at elevated levels and consider waiting for market dips before making further investments.

In specific stock strategies, Pakistan State Oil (PSO) is expected to have its downside limited by moving averages, with a recommended 'buy on dips' strategy targeting Rs387.50 and Rs393.04, and a stop-loss set at Rs376.48. Similarly, Honda Atlas Cars (HCAR) is projected to continue its steady uptrend, with targets set at Rs299.90 and Rs312.50, and a stop-loss at Rs290.51.

These insights are provided by JS Global, with further detailed analysis available through their research channel.