Karachi: The KSE-100 index climbed 1,104 points to close at 167,347, with trading volumes reaching 1,819 million shares, surpassing the previous session's 1,479 million shares. This performance sets the stage for the index to potentially re-test the resistance level at 168,414, aiming for an all-time high of 169,989.

Analysts, however, advise caution, noting that any downward movement could find support in the 166,070-166,920 range, with a further drop targeting the 30-day moving average at 161,911. Both the Relative Strength Index (RSI) and the Stochastic Oscillator indicate a positive outlook, suggesting potential for upward momentum.

In the broader market context, the recommended strategy for investors is to remain cautious at higher levels, with a focus on buying during market dips. Key support and resistance levels are identified at 166,709 and 168,199, respectively.

In individual stocks, Pakistan Petroleum Limited (PPL) is expected to continue its consolidation phase. Investors are advised to adopt a 'buy on dips' strategy, with target prices set at Rs191.20 and Rs194.46, and a stop-loss at Rs186.02.

Similarly, International Steels Limited (ISL) is maintaining its recovery trend. The advised strategy is also to 'buy on dips,' with target prices of Rs108.00 and Rs112.72, and a stop-loss at Rs101.00.

These strategies reflect a cautious optimism in the market, emphasizing the importance of strategic buying opportunities amidst fluctuations.