Karachi: The Karachi Stock Exchange (KSE-100) index witnessed a downward shift, closing at 139,254 points, a decrease of 165 points from its previous level. The index, which had reached an intraday high of 140,202, experienced increased trading activity with volumes rising to 657 million shares, compared to the preceding session’s 629 million shares.

The KSE-100 index is anticipated to encounter resistance in the range of 140,200 to 140,585 points, with a necessary breakout above this zone to reinvigorate upward momentum. Conversely, a decline below 138,198 points could initiate a corrective trend, potentially targeting lower thresholds at 137,430 and 135,481 points.

Market analysts have observed mixed indicators, providing no definitive trading direction. In light of this uncertainty, investors are advised to exercise caution at elevated levels, with a recommendation to await potential market dips. Current support and resistance levels are identified at 138,839 and 139,936 points, respectively.

In sector-specific strategies, ISL is approaching its support level, with a 'buy on dips' strategy being suggested. The target prices are set at Rs97.20 and Rs99.80, with a stop-loss at Rs92.66. Meanwhile, BOP is projected to continue its steady uptrend, with a similar 'buy on dips' strategy targeting Rs13.59 and Rs14.12, and a stop-loss at Rs12.65.

The insights and projections were sourced from JS Global, a prominent financial services firm.