Karachi: The KSE-100 index experienced a volatile trading session yesterday, closing slightly higher by 5 points at 85,669. Trading volumes increased to 596 million shares from 507 million in the previous session, signaling heightened activity.

According to JS Global, the market is poised for short-term consolidation with yesterday’s peak of 86,451 serving as the initial resistance. If the index breaks above this level, it could resume its upward trajectory towards 87,038. Conversely, a decline below the support level of 85,444 could trigger a corrective trend. Both the Relative Strength Index (RSI) and Stochastic Oscillator are currently in overbought territory, suggesting that investors should maintain a cautious approach and consider buying on dips.

For individual stocks, JS Global recommends a ‘buy on dips’ strategy. For ISL, the target prices are set at Rs67.20 and Rs68.96 with a stop loss at Rs62.54. Meanwhile, HBL is expected to see an upside with target prices of Rs144.00 and Rs148.27, and a stop loss set at Rs139.00.