Karachi: The KSE-100 index concluded its latest session with a modest gain, closing at 119,690 points, marking a 40-point increase from the previous day. This session saw trading volumes reach 425 million shares, a decrease from the 573 million shares exchanged in the prior session. Analysts expect the index to potentially revisit its recent high of 120,286 points, with a breakout possibly targeting the all-time high of 120,797 points.

Market experts have identified a support range between 118,700 and 119,200 points, suggesting that any downward movement may stabilize within this range. Technical indicators such as the RSI and MACD are trending upwards, reinforcing a positive outlook. Investors are advised to consider 'buying on dips,' with a recommended stoploss set below 118,871 points. Key support and resistance levels are noted at 119,198 and 120,233 points, respectively.

In sector-specific news, Pakistan State Oil (PSO) is maintaining its position above the 50-day moving average. The suggested strategy for PSO involves 'buying on dips' with target prices of Rs391.00 and Rs402.57, and a stoploss at Rs381.35. Meanwhile, Pakistan Petroleum Limited (PPL) is anticipated to resume its upward trend. Investors are advised to 'buy on dips' with target prices of Rs180.31 and Rs185.20, and a stoploss at Rs172.60.

These insights reflect the market analysis provided by JS Global, offering strategic guidance for investors navigating the current market conditions.