Karachi: The Karachi Stock Exchange (KSE) is witnessing a shift in momentum as 2nd and 3rd tier stocks begin to gain traction, with several stocks poised to remain in the spotlight in the near term. While these lower-tier stocks experience increased activity, the KSE-100 index shows signs of a potential short-term consolidation.

According to AKD Securities Limited, the KSE-100 index is trading below key resistance levels, with momentum indicators currently overbought. The index has recently reached 94,020, a significant resistance level. A break above this point could yield limited gains up to 95,350. Conversely, a decline below the recent low of 92,890 could trigger a corrective trend, targeting 92,050 and 90,830 on the downside. Investors are advised to exercise caution at the current level.

Meanwhile, specific 2nd and 3rd tier stocks are gaining momentum. Stocks such as TGL, CPHL, LOADS, TREET, WAVESAPP, GHGL, ANL, TPL, TELE, GGL, MACFL, SLGL, MERIT, RPL, and GATM are expected to capture investor interest in the coming days. These stocks are exhibiting varying target points and stop-loss levels, with some showing significant activity as indicated by their relative strength index (RSI) values.

The data suggests that while the KSE-100 index is facing resistance and potential consolidation, there is noticeable activity and potential in the 2nd and 3rd tier stocks. Investors are encouraged to consider these dynamics when making investment decisions, keeping in mind the inherent risks associated with these stocks.