Karachi: The KSE-100 index displayed a range-bound performance, closing at a level of 139,380, marking an increase of 173 points from the previous day. Trading volumes were recorded at 589 million shares, a slight decrease from the 635 million shares traded earlier. Analysts suggest that the current trend indicates potential further consolidation.

Interim resistance for the index is identified between the 140,150 and 140,585 levels, with a break above this range likely to renew upward momentum. Conversely, a downward trend would find support between the 138,620 and 139,200 levels. A drop below these levels could trigger a corrective trend, targeting the 137,430 and 135,481 marks.

Market strategists recommend investors exercise caution at higher levels and advise waiting for dips before making further investments. The support and resistance are currently positioned at 139,000 and 139,954, respectively.

In specific trading strategies, Pakistan State Oil (PSO) is advised to be approached with a 'buy on dips' strategy, targeting Rs388.70 and Rs397.13, with a stop-loss set at Rs380.15. Similarly, International Steels Limited (ISL) is also recommended for a 'buy on dips' strategy, aiming for Rs104.00 and Rs108.58, with a stop-loss at Rs96.50.

These insights and recommendations are provided by JS Global, highlighting the need for a cautious approach amid ongoing market fluctuations.