Karachi: The KSE-100 index, a key indicator of the Pakistan Stock Exchange, closed at 119,931 points, marking an increase of 960 points from the previous day. Trading volumes surged to 668 million shares, up from 438 million in the prior session.

The index is nearing a critical resistance range at 120,797 points, which is its all-time intraday high. A breakthrough at this level could potentially propel the index towards 123,375 and 125,947 points. On the downside, the index is expected to find support between the 118,740 and 119,340 points range.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have also shown upward movement, aligning with the positive outlook on the index. Analysts recommend investors to 'Buy on dips', with a stoploss set below 118,527 points. The immediate support and resistance levels are identified at 119,338 and 120,315 points, respectively.

In specific stocks, ATRL is predicted to continue its upward trend. The suggested strategy is 'Buy on dips' with target prices set at Rs654.00 and Rs666.00, and a stoploss at Rs612.01. Meanwhile, PPL is expected to consolidate above its 50-day moving average, with a 'Buy on dips' recommendation targeting Rs180.31 and Rs185.20, and a stoploss at Rs172.41.

The analysis suggests a cautiously optimistic outlook for investors, with strategic buying opportunities presented amid current market conditions.