Is it possible to add pagination on item pages or like a next item link or image?

You can use the option Item Navigation. It is in the parameters of the item view inside each category.

Thanks but that only shows the next items name in the category. I wanted it to show pagination of each item like
< 1 2 3 4 5 6 7 8 9 10 NEXT>
This is done on the category level but can it be done on an item level?

No, I'm afraid not.