Karachi: The Karachi Stock Exchange (KSE-100) index continued its upward trajectory, gaining 861 points in the latest trading session to close at 95,857. This increase in points was accompanied by a rise in trading volumes, with 831 million shares exchanged compared to 765 million the previous day. Market analysts suggest that if the current bullish trend persists, the index could target levels of 96,401 and potentially 97,625. However, caution is advised due to indicators signaling an overbought market condition.

According to JS Global, the market's momentum reflects a robust interest from investors, but they recommend a cautious approach at these higher levels, advising investors to wait for potential market dips. The technical analysis indicates that the support range for the index lies between 95,360 and 95,700. A decline below this range could trigger a corrective trend. The immediate support level is pegged at 95,367, with resistance around 96,191.

In individual stock analysis, Pakistan State Oil (PSO) and Sui Northern Gas Pipelines Limited (SNGP) are spotlighted for potential upside. For PSO, the strategy is to "buy on dips," targeting Rs268.06 and Rs281.67, with a stop-loss set at Rs255.00. Similarly, SNGP also holds a positive outlook, with a "buy on dips" strategy targeting Rs94.44 and Rs96.50, and a stop-loss at Rs86.95.