Karachi: The KSE-100 index experienced a turbulent trading day, closing at 121,641, representing a decline of 158 points from the previous day. Trading volumes increased to 855 million shares, up from 711 million shares in the prior session. Analysts anticipate a period of post-breakout consolidation, with the index poised to challenge resistance at 122,282, a level reached on Thursday.

Market experts suggest that a breakthrough above this resistance could propel the index to 123,375, with potential further gains to 125,947. Conversely, any downward movement is likely to find support in the 121,050-121,350 range. Indicators currently show mixed signals, providing no definitive trading direction for investors.

Investment strategies highlight caution at higher levels, advising investors to wait for potential dips. The support and resistance levels are identified at 121,345 and 122,109, respectively, according to market analysts.

In specific stocks, Attock Refinery Limited (ATRL) is recommended for a 'buy on dips' strategy, targeting recent highs of Rs693.20 and Rs709.40, with a stop-loss set at Rs673.10. Similarly, Honda Atlas Cars (Pakistan) Limited (HCAR) is expected to face downside restrictions at its 50-day moving average, with a 'buy on dips' approach targeting Rs296.74 and Rs302.76, and a stop-loss at Rs289.69.

These insights and strategies are provided by JS Global, reflecting the current market sentiment and trading approach amid ongoing volatility.