Karachi: The Karachi Stock Exchange (KSE-100) index experienced a volatile session, closing slightly higher at 120,023, an increase of 21 points from the previous day. Trading volumes decreased significantly to 422 million shares, compared to 605 million shares in the prior session.

The market is poised for a period of consolidation, with technical indicators suggesting no clear trading bias. Support for the index is anticipated at Friday's low of 119,872. A drop below this level could lead the index toward the 30-day moving average (DMA) at 118,895, and potentially the 50-DMA at 117,552. Conversely, resistance is expected in the 120,240 to 121,200 range.

Analysts recommend that investors exercise caution at higher levels and consider accumulating stocks during market dips. The designated support and resistance levels are 119,654 and 120,610, respectively.

In specific stock strategies, International Steels Limited (ISL) is predicted to resume its uptrend, with a 'buy on dips' approach suggested. The target prices for ISL are set at Rs89.03 and Rs94.00, with a stop-loss at Rs84.05.

Additionally, Oil and Gas Development Company (OGDC) is expected to consolidate above key averages. The strategy of 'buy on dips' is advised, with target prices of Rs215.00 and Rs218.99, and a stop-loss at Rs208.78.

The information is sourced from JS Global, reflecting the current technical outlook and strategic recommendations in the Pakistani stock market.