Karachi: The Karachi Stock Exchange’s benchmark KSE-100 index exhibited moderate trading activity, closing up by 229 points at 78,106. The movement remains tightly aligned with key daily moving averages, suggesting cautious trading conditions ahead. Trading volume slightly decreased from the previous session, indicating a tentative approach among investors.

According to JS Global, the KSE-100 index’s performance reflects ongoing consolidation, as it navigated between the 50-day moving average (DMA) of 77,863 and the 30-DMA of 79,031. The index’s ability to sustain a breakout above or below these averages remains pivotal for determining future trends. The Relative Strength Index (RSI) shows improvement, yet the Stochastic Oscillator’s downward trend suggests a lack of clear directional bias. Investors are advised to maintain caution at elevated price levels and consider engaging in transactions during price dips.

The current support and resistance levels for the index are noted at 77,826 and 78,547, respectively, which will play a crucial role in the forthcoming trading sessions. Additionally, individual stocks like DGKC and ENGRO are recommended for purchase on dips, targeting specific price points with established stoploss markers to manage risk effectively.