Karachi: The KSE-100 index of Pakistan's stock market exhibited a positive trend, closing at 122,024 points with an increase of 383 points from the previous day. This movement was accompanied by trading volumes totaling 593 million shares, a decrease from the 854 million shares traded in the prior session.

Market analysts suggest that the index may test its resistance level at the previous day's high of 122,612 points. A breakthrough at this level could potentially push the index to 123,375 points, with further gains possibly extending to 125,947 points. In contrast, any downward movement is expected to find support within the 121,050 to 121,590 range.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have shown upward movement, reinforcing a positive outlook. However, experts advise investors to remain cautious and consider buying opportunities during market dips. Current support and resistance levels are positioned at 121,539 and 122,560 points, respectively.

In related market strategies, JS Global recommends a 'buy on dips' approach for Attock Refinery Limited (ATRL), targeting prices of Rs709.40 and Rs725.60, with a stop-loss set at Rs685.02. For Honda Atlas Cars (Pakistan) Limited (HCAR), the suggestion is to adopt a similar strategy with price targets of Rs297.25 and Rs305.97, and a stop-loss at Rs284.51.