Karachi: The KSE-100 index exhibited range-bound trading activity, closing 112 points higher at 118,333, amid fluctuating market conditions. Trading volumes increased to 690 million shares compared to 636 million in the previous session, signaling moderate investor interest.

Market analysts predict that the index may test support at the 118,144 level, warning that a drop below this could push the index towards its 30-day moving average, currently at 116,057. Conversely, resistance is anticipated within the 118,420-119,100 range. The Relative Strength Index (RSI) has shown improvement, but the Stochastic Oscillator's downward trend suggests mixed signals for traders.

Investment experts advise caution as the index nears its highs, suggesting that investors look for buying opportunities during market dips. The immediate support and resistance levels are defined at 118,048 and 118,712, respectively.

In specific stocks, International Steels Limited (ISL) remains consolidated above its 200-day moving average, with a recommended strategy to 'buy on dips,' targeting price points of Rs82.95 and Rs86.90, and a stop-loss set at Rs78.79.

Similarly, Honda Atlas Cars (HCAR) is expected to see its moving averages limit downside risks. The advised strategy is also to 'buy on dips,' targeting Rs294.00 and Rs302.49, with a stop-loss at Rs285.92.

These market insights were provided by JS Global, indicating a cautious but strategic approach for investors navigating the current market dynamics.