Karachi: The Karachi Stock Exchange's benchmark KSE-100 index made significant strides by gaining 2,437 points, closing at 166,243, according to a recent report from JS Global. The index shows potential to reach an all-time high, contingent upon surpassing the resistance level of 166,421. However, it currently faces mixed momentum indicators which suggest no clear trading direction, urging investors to proceed with caution.

Trading volumes were recorded at 1,479 million shares, a decrease from the previous 1,979 million shares. Market analysts have noted that any decline could find support between 164,870 and 165,650.

JS Global's technical outlook advises a cautious approach, recommending investors wait for dips. The current support and resistance levels are identified at 164,876 and 167,015, respectively.

Regarding specific stocks, Pakistan Petroleum Limited (PPL) is observed to be consolidating between key averages. The recommended strategy is a 'buy on dips', targeting Rs189.29 and Rs194.46, with a stop-loss at Rs182.60.

For International Steels Limited (ISL), a recovery trend remains intact, with the same 'buy on dips' strategy targeting Rs108.00 and Rs112.72, and a stop-loss at Rs99.10.

Investors are advised to remain vigilant, as the mixed momentum indicators suggest a need for cautious trading strategies in the current market environment.