Karachi: The KSE-100 index experienced a volatile trading session, closing at 138,412, marking an increase of 447 points day-on-day. Trading volumes were notably low, with 426 million shares exchanged compared to 606 million in the previous session. Analysts predict the index will continue to consolidate at current levels.

Market experts highlight that support for the index is observed between 137,430 and 137,640 points, cautioning that a decline below this range could signal a corrective trend, potentially targeting a downside of 135,480 points. Conversely, any upward movement is expected to encounter resistance in the 139,010 to 139,720 range, with a breakthrough aiming for 140,585 points. Investors are advised to exercise caution on upward movements and consider buying during market dips.

Among specific stocks, HBL's stochastic oscillator generated a buy signal, suggesting a "buy on dips" strategy, targeting price levels of Rs227.00 and Rs234.44, with a stoploss at Rs216.36. Similarly, HCAR is supported at its 200-day moving average, with a buy on dips strategy targeting Rs296.00 and Rs301.30, and a stoploss set at Rs289.90.

These analyses and recommendations come from JS Global, highlighting the cautious yet strategic approach investors are advised to take amid current market conditions.