Karachi: The KSE-100 Index, Pakistan's leading stock market benchmark, continued its upward trajectory, closing at 117,316, marking an increase of 414 points from the previous day. Trading volumes also saw a significant uptick, with 425 million shares exchanged, compared to 408 million the previous day.

Market analysts predict that the index could soon challenge its recent high of 117,888. A successful breakthrough at this level may propel the index towards a target of 118,718. However, on the downside, immediate support is identified at the 30-day moving average of 116,005. Falling below this benchmark could see the index decline to the 50-day moving average of 114,678.

Technical indicators such as the Stochastic Oscillator and the Relative Strength Index (RSI) are currently on an upward trend, contributing to a positive market outlook. Investors have been advised to consider 'buying on dips,' with a protective stop-loss positioned below the 30-day moving average.

In other market movements, DG Khan Cement (DGKC) is expected to maintain its consolidation phase. The suggested strategy remains 'buy on dips,' with target prices set at Rs128.00 and Rs130.32, and a stop-loss at Rs122.15.

Honda Atlas Cars (HCAR) is anticipated to commence an upward trend. Investors are advised to adopt a 'buy on dips' approach, aiming for Rs307.90 and Rs312.87, with a stop-loss at Rs295.06.

This analysis and guidance are provided by JS Global, a prominent financial services firm.