Islamabad, Pakistan's stock market is poised for a period of consolidation after the KSE-100 index failed to maintain its intraday peak, closing slightly higher amidst varying investor sentiments, a detailed technical analysis from JS Research revealed on Thursday.

According to JS Global, the KSE-100 index saw a modest increase of 137 points day-over-day, settling at 61,979. This movement came on the back of a decrease in trading volumes from 436 million shares in the previous session to 276 million shares. The analysis suggests that the market index is likely to hover around its current levels in the short term. A potential breakout above the previous day's high could see the index aiming for the 50-day moving average (DMA) at 63,177, with a further target at the 30-DMA of 63,392. Conversely, the index is expected to find support between 61,450 and 61,720 levels.

The report also highlighted specific investment strategies for stocks like ENGRO and BOP, recommending a 'Buy on dips' approach. For ENGRO, the target prices are set at Rs319.94 and Rs325.46, with a stop loss at Rs314.99. Meanwhile, BOP's recent Buy signal from the Stochastic Oscillator suggests targeting Rs6.47 and Rs6.69, with a stop loss at Rs6.06.

This mixed outlook underscores a cautious optimism among investors, advising a strategic approach to navigating the market's current dynamics. The support and resistance levels for the KSE-100 index are identified at 61,717 and 62,420, respectively, guiding investors on potential pivot points for their trading decisions.

The analysis from JS Research serves as a critical tool for investors aiming to adapt their strategies to the market's evolving trends, emphasizing the importance of vigilance and strategic positioning in the current economic landscape.