Karachi: The KSE-100 index experienced a modest rise, closing 47 points higher at 118,430, amid significant trading activity with 741 million shares exchanged, a noticeable increase from the previous session's 672 million shares. The index is approaching a resistance level of 119,217 and could potentially challenge its all-time high of 120,796. Analysts from JS Global suggest that any downward movement will likely encounter support between 117,540 and 117,990, with additional support at 116,399, marked by the 30-day moving average.

Indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) show upward trends, reinforcing a positive market outlook. Investors are advised to consider buying during market dips, while maintaining a stop-loss below the 30-day moving average.

In specific company insights, DG Khan Cement Company Limited (DGKC) is expected to consolidate, with a strategic focus on buying during dips aiming for targets of Rs129.28 and Rs132.38, while maintaining a stop-loss at Rs122.98. Similarly, Honda Atlas Cars Pakistan Limited (HCAR) presents limited downside risk, with recommendations to buy on dips targeting Rs303.17 and Rs307.00, and a stop-loss set at Rs296.75.

The trading strategies and market analysis are provided by JS Global, with further inquiries directed to their research channel at [email protected].