Karachi: The KSE-100 index closed at 139,420, marking a rise of 1,202 points day-over-day, according to a report from JS Global. Trading volumes increased to 629 million shares, up from 608 million previously. Analysts suggest that while the index could test resistance at 140,585, any upward momentum could extend towards 141,686 and possibly reach 144,243. However, downside support is anticipated within the 138,200-138,450 range.

Indicators present a mixed outlook, leading analysts to advise investors to exercise caution. The support and resistance levels are identified at 138,445 and 140,148, respectively. Investors are recommended to wait for market dips before making significant moves.

In specific stock strategies, JS Global advises a 'buy on dips' approach for Pakistan State Oil (PSO), targeting prices of Rs386.90 and Rs392.39, with a stop-loss set at Rs380.00. Meanwhile, the Bank of Punjab (BOP) might resume its upward trend, with target prices at Rs13.59 and Rs14.12, and a stop-loss at Rs12.65.