Karachi: The Karachi Stock Exchange's benchmark KSE-100 index recorded another day of range-bound trading, closing at 170,426 points, a decrease of 340 points from the previous day. Trading volumes dropped to 421 million shares, down from the 483 million shares traded in the prior session.

According to JS Global, the index is poised to test support at 170,120 points, the previous day's low. A decline below this level could see the index targeting 168,670 points, with potential further downside to 166,141 points. Conversely, any upward movement will likely encounter resistance at the 200-day moving average of 172,392 points. Momentum indicators remain mixed, offering no definitive trading direction. Investors are advised to 'Buy on dips', maintaining a risk threshold below 170,120 points. Current support and resistance levels are 169,989 and 170,995 points, respectively.

In individual stocks, Pakistan Petroleum Ltd (PPL) is trading above key averages, with a recommendation to 'Buy on dips' aiming for Rs236.50 and Rs240.84, and a stop-loss set at Rs226.23. Similarly, NETSOL closed above its 200-day moving average, with a buy target of Rs127.12 and Rs129.00, and a stop-loss at Rs122.00.