Karachi: The KSE-100 index experienced a day marked by fluctuations, reaching an intraday high of 99,623 before closing at 97,798, an increase of 470 points from the previous day. Trading volumes rose to 1,249 million shares, compared to 970 million shares in the prior session. Analysts indicate the possibility of short-term consolidation with resistance anticipated between 98,300 and 99,120 levels, and potential upward movements towards 100,284 and 100,930 levels.

According to JS Global, the market's technical indicators such as the RSI and Stochastic Oscillator suggest overbought conditions, prompting investors to remain cautious. The immediate support level is identified at approximately 96,972, while resistance stands near 99,124. In terms of stock-specific strategies, ENGRO is advised as a 'buy on dips' with targets of Rs344.50 and Rs350.00, and a stop loss at Rs331.10. Similarly, HCAR's strategy involves 'buying on dips' with the targets set at Rs275.67 and Rs281.94, and a stop loss at Rs266.15.