Karachi: The KSE-100 index closed at 138,597, declining by 68 points day-on-day, as it failed to sustain the intraday high of 140,585. Trading volumes were recorded at 609 million shares, a decrease from the 780 million shares traded in the previous session. The index is anticipated to face resistance between the 139,170 and 140,010 levels. A break above this range could potentially continue the upward trend, while a downside might find support between 137,760 and 138,350.

Market analysts indicate that momentum indicators are currently mixed, offering no clear trading view. Investors are advised to remain cautious on the higher side and to wait for dips before making investment decisions. The support and resistance for the index are positioned at 137,765 and 140,007, respectively.

In specific stock strategies, PSO is perceived to have limited downside risk. The suggested strategy is to 'buy on dips,' targeting a price range between Rs385.00 and Rs392.39, with a stop-loss at Rs373.73.

For MLCF, support is identified at the 30-day moving average. The recommended strategy is also to 'buy on dips,' targeting Rs85.92 and Rs87.85, with a stop-loss at Rs83.00.

The market's performance underscores the necessity for investors to remain vigilant and prudent in their trading strategies amidst uncertain signals.