KARACHI: The KSE-100 index experienced a turbulent trading session, closing at 133,403 points, marking a 33-point increase from the previous day. The trading volume was notably high, with 1,207 million shares exchanged, compared to 920 million shares in the prior session.

Analysts from JS Global anticipate that the index will test resistance at the previous day's high of 134,200. A breakthrough above this level could set targets at 135,232 and 137,549 points. Conversely, any downward movement is expected to find support in the 131,930 to 132,700 range.

Technical indicators, including the Relative Strength Index (RSI) and the Stochastic Oscillator, are currently in overbought territory. This suggests that a short-term market correction may be on the horizon. Investors are advised to exercise caution at higher levels and consider waiting for market dips before making significant moves.

In terms of specific stocks, DG Khan Cement Company Limited (DGKC) is showing a pattern of higher highs and higher lows. The recommended strategy is to 'buy on dips,' with target prices set at Rs171.20 and Rs175.37. A stop-loss has been placed at Rs164.10.

Pakistan State Oil (PSO) is trading within a defined range. Here too, the strategy is to 'buy on dips,' with target prices of Rs397.13 and Rs401.15. The stop-loss for PSO is set at Rs389.40.

Investors are urged to remain vigilant and monitor market conditions closely, considering the potential for fluctuations in the short term.