Karachi: The KSE-100 index experienced a restrained trading session, closing at 187,688, marking an increase of 655 points from the previous day. Trading volumes decreased to 1,069 million shares compared to 1,326 million shares in the preceding session. Market analysts anticipate the index to encounter resistance between the 188,100 and 189,530 levels. A successful breach of this range could propel the index towards 190,699, with further potential to reach 192,426. Conversely, any downturn is expected to find support between 186,820 and 187,540, with a drop below these levels potentially signaling a corrective phase.

According to JS Global, technical indicators present a mixed outlook. While the Relative Strength Index (RSI) shows improvement, the Moving Average Convergence Divergence (MACD) is on a downward trajectory, suggesting an unclear trading view. Investors are advised to exercise caution on the upside and consider purchasing during market dips. Current support and resistance points are identified at 186,974 and 188,255, respectively.

In related market movements, Maple Leaf Cement Factory (MLCF) is maintaining a recovery trend, with a strategy recommendation of 'buy on dips,' targeting price levels of Rs123.50 and Rs125.81, and setting a stop-loss at Rs120.02. Similarly, International Steels Limited (ISL) has closed above its 30-day moving average, with a suggested strategy of 'buy on dips,' aiming for Rs112.11 and Rs116.20, and a stop-loss at Rs106.00.