Karachi: The KSE-100 index experienced a volatile trading session, failing to maintain its intraday high of 126,718 and closing at 124,093, marking a decrease of 260 points from the previous day. Trading volumes slightly declined, with 1,025 million shares changing hands compared to 1,041 million shares in the prior session.

Market analysts suggest the index is expected to trade within a range, testing support at the previous session's low of 123,847. A drop below this level could initiate a corrective trend. On the upside, resistance is anticipated between the 124,880 and 125,925 levels, with further resistance at 126,718.

Technical indicators present a mixed picture, as the Moving Average Convergence Divergence (MACD) shows an upward trend, while the Relative Strength Index (RSI) indicates weakness, providing no definitive trading direction. Investors are encouraged to view any decline as a buying opportunity, with a recommended stop-loss set below 123,238.

In related stock activity, International Steels Limited (ISL) is expected to resume its upward trend. The recommended strategy is to 'Buy on dips,' with price targets set at Rs94.00 and Rs97.67, and a stop-loss at Rs86.66.

Similarly, Habib Bank Limited (HBL) is projected to continue its steady uptrend. Investors are advised to 'Buy on dips,' aiming for price targets of Rs169.80 and Rs175.86, with a stop-loss at Rs160.49.

These insights are based on the latest analysis from JS Global.