Karachi: The KSE-100 index experienced range-bound activity, closing at the 155,385 level, reflecting an increase of 945 points from the previous day. Trading volumes were recorded at 858 million shares, a decrease from 988 million in the prior session. Analysts suggest that the market could enter a consolidation phase, with potential for a breakout if the index exceeds the high of 155,602. This upward movement could lead to testing the all-time high of 157,817.

Conversely, if the index falls below 154,360, a corrective phase may ensue, with subsequent downside targets identified at 153,765 and 151,262. Market indicators currently present mixed signals, offering no definitive trading direction. Investors are advised to exercise caution at elevated levels and consider accumulating stocks during market dips.

The support and resistance levels for the KSE-100 are set at 154,713 and 155,829, respectively. In sector-specific movements, OGDC is anticipated to rebound from its 30-day moving average, with a strategy of buying on dips targeting Rs270.97 and Rs273.42, and a stoploss at Rs266.56.

Similarly, MLCF is expected to continue its upward trend. The recommended strategy is also to buy on dips, with target prices of Rs107.76 and Rs111.61, and a stoploss set at Rs102.00. These forecasts and strategies were provided by JS Global, highlighting the cautious yet opportunistic approach suggested for investors in the current market climate.