Karachi, The KSE-100 index at the Karachi Stock Exchange is expected to enter a phase of short-term consolidation following a volatile trading session where it closed at 70,545, marking an increase of 230 points. Trading volumes surged, with 555 million shares changing hands compared to 389 million in the previous session.

According to JS Global, the current technical outlook suggests the market's momentum indicators are overbought, indicating potential for consolidation. If the index surpasses the recent high of 70,609, it could aim for levels between 71,260 and 71,520, with a further stretch possibly reaching 72,245. Conversely, any declines should find support in the range of 70,100 to 70,360.

Investors are advised to exercise caution at higher market levels and consider entering positions during price dips. Notably, the established support and resistance levels are at 70,103 and 70,798, respectively.