Karachi: The KSE-100 index closed at 93,355, rising by 131 points from the previous day following a volatile trading session. Trading volumes saw an increase, reaching 807 million shares, compared to 793 million in the prior session. The current market pattern indicates ongoing consolidation, with a cautious approach recommended at this level.

According to JS Global, a break below the low of 92,943 from the previous day could initiate a corrective move, with potential downside targets at 92,046 and 90,827. On the upside, resistance is anticipated in the range of 93,370 to 93,800, followed by 94,020. The indicators remain mixed, providing no clear trading view. Immediate support is noted at 92,931, while resistance is identified at 93,791.

In terms of specific stocks, SNGP is expected to continue its steady uptrend with a strategy of 'Buy on dips,' targeting Rs91.11 and Rs93.90, with a stoploss set at Rs87.00. Meanwhile, MLCF is projected to continue its slide, with a 'Sell on Strength' strategy, targeting Rs40.41 and Rs38.46, and a stoploss at Rs41.94.