Karachi: The KSE-100 index has shown signs of recovery, closing at 111,378 points, marking a 1,055-point increase from the previous day. Trading volumes have risen significantly to 415 million shares, up from 300 million earlier. Market analysts predict resistance at the 50-day moving average (DMA) of 112,345, with potential further gains targeting the 30-DMA at 114,050.

According to a statement by JS Global, the market is expected to face support between the 110,340 and 110,990 levels. Indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator have improved, supporting a positive recovery outlook. The recommendation for investors is to 'Buy on dips,' with defined risks below 109,949, and immediate support and resistance levels at 110,343 and 112,018, respectively.

In other market movements, Honda Atlas Cars (HCAR) has closed above both the 30-DMA and 50-DMA, with a strategic recommendation to 'Buy on dips.' The target prices for HCAR are set at Rs316.02 and Rs323.65, with a stop-loss at Rs304.21. Meanwhile, Pakistan Petroleum Limited (PPL) is also expected to continue its recovery, with a 'Buy on dips' strategy targeting Rs174.00 and Rs178.86, and a stop-loss at Rs166.60.