AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: The KSE-100 Index, a key benchmark of the Pakistan Stock Exchange, surged to an all-time high, closing at 152,202 points on Thursday. This rise, fueled by a 1,226-point increase day-over-day, reflects ongoing bullish momentum despite a slight decline in trading volume to 1,043 million shares from the previous session’s 1,081 million.
Market analysts anticipate a potential revisit to the recent high of 152,805 points, with a breakout above this threshold possibly extending the rally towards the 153,766-point level. However, support levels are identified between 151,320 and 151,420 points, with a break below this range potentially triggering a corrective trend.
Technical indicators, including the Relative Strength Index (RSI) and Stochastic Oscillator, continue to rise, reinforcing a positive market outlook. Investors are advised to adopt a ‘Buy on dips’ strategy, with risk management defined below the 151,320-point support level, and resistance noted at 152,898 points.
Among individual stocks, Pakistan State Oil (PSO) maintains a steady uptrend, with a ‘Buy on dips’ strategy recommended. The target prices are set at Rs413.23 and Rs420.67, with a stop-loss at Rs402.50.
Similarly, Honda Atlas Cars (HCAR) shows a rising window pattern, suggesting further upside potential. The recommended strategy is also ‘Buy on dips,’ with target prices of Rs305.25 and Rs313.91, and a stop-loss at Rs296.01.