Karachi: The KSE-100 index in Pakistan experienced a volatile trading session, closing at 166,284, marking a 138-point increase from the previous day. Trading volumes increased slightly, with 608 million shares changing hands compared to 593 million shares previously. Analysts anticipate that the index may revisit its recent high of 166,837, with potential to reach the 169,280-170,000 range if it breaks this level. Conversely, a drop below 165,886 could push the index down to 163,898.

The Relative Strength Index (RSI) has shown improvement, yet the Stochastic Oscillator’s downward trend indicates a lack of a clear trading direction. Experts advise investors to remain cautious at higher levels and consider buying during dips, with support and resistance levels identified at 165,834 and 166,785, respectively.

In related market movements, International Steels Limited (ISL) is predicted to rebound from its 200-day moving average, with a ‘buy on dips’ strategy targeting prices of Rs99.99 and Rs102.93, and a stop-loss set at Rs94.19. Similarly, Oil and Gas Development Company (OGDC) is expected to see upside movement, with a ‘buy on dips’ approach targeting Rs273.31 and Rs281.60, and a stop-loss at Rs266.40.

The insights, provided by JS Global, underscore the need for cautious trading amid uncertain market signals.