Karachi: The KSE-100 index experienced another day of gains, closing at 91,938 points with an increase of 1,078 points day-on-day. The trading volume reached 590 million shares, an increase from the 466 million shares traded in the previous session. The index is expected to encounter resistance at the previous day’s high of 92,159 points. Should the index break above this level, it could move towards the target of 93,843 points. However, any downturn is anticipated to find support in the range of 91,500 to 91,830 points.

According to JS Global, the Stochastic Oscillator has shown improvement, while a bearish divergence has been identified on the Relative Strength Index (RSI), suggesting no definitive trading direction. Investors are advised to exercise caution at higher levels and consider waiting for market dips. The support and resistance levels have been pinpointed at 91,503 and 92,266 points, respectively.

In stock-specific strategies, Honda Atlas Cars (HCAR) is gaining momentum with a ‘buy on dips’ strategy targeting Rs263.39 and Rs275.95, and a stop-loss set at Rs248.00. Similarly, International Steels Limited (ISL) shows potential for an upside, with a ‘buy on dips’ strategy targeting Rs77.31 and Rs79.26, and a stop-loss at Rs73.05.