Karachi, The Karachi Stock Exchange (KSE-100) index displayed a range-bound performance, gaining 297 points to close at 64,647, with trade volumes reaching 640 million shares. This comes amidst expectations of continued fluctuating market trends.

According to JS Securities Limited, the KSE-100 index is anticipated to test its support at the previous day's low of 64,220 points. A fall below this level could see the index moving towards its 30-day moving average (DMA) at 62,738 points. Conversely, any upward movement will likely encounter resistance in the range of 64,700 to 65,250 points, with potential gains extending to the 67,094 level if this resistance is breached. The firm suggests a strategy of 'buying on dips' for investors, with a recommended stoploss below the 30-DMA level. The identified support and resistance levels for the index are at 64,163 and 65,188 points, respectively.

In addition to the broader market outlook, JS Securities Limited provided specific strategies for individual stocks. For Pakistan Petroleum Limited (PPL), the firm set a new recent high target and advised a 'buy on dips' strategy, targeting prices of Rs133.23 and Rs136.58, with a stoploss at Rs125.11. For United Bank Limited (UBL), the recommendation was to continue a steady uptrend with the same 'buy on dips' approach, targeting Rs191.99 and Rs198.32, and setting a stoploss at Rs182.50.

This technical analysis indicates a cautiously optimistic outlook for the KSE-100, with specific strategies for investors to navigate the expected market volatility.