Karachi: A steady recovery in Pakistan's stock market persisted as the KSE-100 index gained 1,843 points from the previous day, closing at 186,901. Trading volumes reached 849 million shares, up from 740 million shares traded previously. The index is anticipated to encounter resistance in the 187,510 to 187,570 range, with a potential target of 191,033 if it breaks through. Conversely, any decline may find support between 185,540 and 186,655, with a further drop targeting the 30-day moving average (DMA) at 182,515.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator are trending upwards, reinforcing the outlook for continued recovery. Investors are advised to adopt a 'Buy on dips' strategy, with a stop-loss set below the 30-DMA level. Key support and resistance levels are identified at 185,791 and 187,764, respectively.

In related market movements, Pakistan State Oil (PSO) is expected to see its downside limited by moving averages, with a 'Buy on dips' strategy targeting prices of Rs491.18 and Rs506.75, and a stop-loss at Rs476.53. For Honda Atlas Cars (HCAR), the market trend indicates a higher high and higher low, with a 'Buy on dips' recommendation aiming for targets of Rs255.01 and Rs258.12, and a stop-loss at Rs244.00.