FLASHNEWS:

KSE-100 Witnesses High Volatility; Caution Advised

Karachi, The KSE-100 index experienced a bullish momentum, gaining 800 points day-over-day to close at 64,718. Trading volumes stood at 1,317 million shares, up from 985 million shares previously. The index is expected to target the 65,250 level, with potential to rise to 66,530. However, any downward movement will find support between 64,060 and 64,510 levels.

According to JS Global, the KSE-100 index is currently in an overbought state, indicating a possible short-term correction, the overall trend remains bullish. Investors are advised to 'Buy on dips', with a defined risk below 63,853. The support and resistance levels are set at 64,061 and 65,166, respectively. Specific stocks such as Pakistan State Oil (PSO) and Habib Bank Limited (HBL) are also advised for 'Buy on dips' strategies, with respective target prices and stoploss levels provided.