Karachi: The KSE-100 index, after reaching a high of 120,506, saw a decline, closing at 119,649, marking a drop of 313 points from the previous day. Trading volumes decreased to 572 million shares from the 699 million shares traded in the prior session. The index is anticipated to encounter resistance between the 120,500 and 120,800 levels. A breakthrough above this range could initiate a new bullish trend, potentially elevating the index to 123,375 and 125,947. Conversely, any downward movement is expected to find support between 118,930 and 119,300 levels. Current indicators provide mixed signals, offering no clear trading direction. Investors are advised to remain cautious and consider buying during market dips.

In related market news, NETSOL is undergoing a post-breakout consolidation. The recommended strategy is to 'buy on dips' with a target price range of Rs145.85 to Rs151.25, while maintaining a stop-loss at Rs138.37.

Additionally, ISL has closed above its 200-day moving average. The strategy here is also to 'buy on dips,' targeting Rs82.91 and Rs88.60, with a stop-loss set at Rs78.78.

These insights are provided by JS Global through their research channel, offering strategic advice for cautious market participation.