Karachi: The KSE-100 Index experienced a volatile trading session, ultimately closing higher at 130,687 points, marking a 343-point increase from the previous day. Trading volumes reached 900 million shares, slightly down from the 1,026 million shares recorded in the last session.

Market analysts predict the index will revisit its recent high of 131,325. A breakthrough at this level could see the index target 132,134, with potential further gains to 133,412. Conversely, any downward movement is expected to find support between 129,050 and 129,870 points.

Technical indicators, including the RSI and MACD, are pointing upwards, suggesting a positive market outlook. Investors are advised to adopt a 'Buy on dips' strategy, with a recommended stoploss set below 128,616. Current support and resistance levels are at 129,867 and 131,415, respectively.

In stock-specific strategies, Sui Northern Gas Pipelines (SNGP) is viewed as having limited downside risk. Investors are encouraged to target prices of Rs125.55 and Rs127.98, with a stoploss at Rs118.65.

Similarly, Pakistan State Oil (PSO) is expected to maintain its upward trend. The advised strategy is to 'Buy on dips', targeting Rs397.13 and Rs410.30, while maintaining a stoploss at Rs389.11.