Karachi: The KSE-100 index experienced a volatile trading session, closing at 150,016 points, marking an increase of 838 points from the previous day. Trading volumes decreased to 260 million shares from 298 million shares the day before. The index is anticipated to test resistance at the 151,504 level, with a break above potentially targeting the 200-day moving average of 158,048 points. However, support is expected between 147,015 and 148,510 points.

According to JS Global, the Relative Strength Index has shown improvement, but the Stochastic Oscillator is trending downwards, indicating no clear trading direction. Investors are advised to remain cautious and consider waiting for market dips before taking action. The support and resistance levels are identified at 148,515 and 151,510 points, respectively.

In sector-specific news, Pakistan Petroleum Limited (PPL) is advised to follow a 'buy on dips' strategy, with targeted prices at Rs209.56 and Rs215.41, and a stop-loss set at Rs202.15. Meanwhile, Maple Leaf Cement Factory (MLCF) is expected to consolidate, with a similar 'buy on dips' strategy targeting Rs81.20 and Rs84.30, with a stop-loss at Rs75.83.