Karachi: The KSE-100 index exhibited positive momentum, closing at 133,782, up by 1,205 points on a day-over-day basis. Trading volumes were notably high, with 942 million shares exchanged, compared to 906 million shares in the previous session. The index is anticipated to encounter resistance in the 133,900-134,200 range. A breakout could elevate the index to target levels of 135,231 and 137,549. Conversely, support levels are projected between 132,700 and 133,030.

The Moving Average Convergence Divergence (MACD) indicator is trending upwards, suggesting potential bullish movement. However, a bearish divergence on the Relative Strength Index (RSI) suggests caution. Analysts advise investors to adopt a cautious stance on the higher side and consider waiting for market dips to buy.

In specific stock movements, DG Khan Cement (DGKC) maintains an upside target with a 'buy on dips' strategy, aiming for Rs171.20 and Rs175.37, with a stop-loss set at Rs164.10. Similarly, Honda Atlas Cars (HCAR) closed above the 200-day moving average, recommending a 'buy on dips' approach with targets of Rs295.10 and Rs298.93, and a stop-loss at Rs286.75.

Market participants are advised to monitor these levels closely and strategize accordingly, as the technical outlook indicates potential for both upward momentum and necessary caution.