Karachi: The KSE-100 index experienced a range-bound session, closing at 113,837, a decline of 659 points from the previous day. Trading volumes were comparatively low, with 469 million shares exchanged, down from 659 million shares traded in the previous session. The market is now focusing on the 30-day moving average (DMA) at the 113,109 level, which could signal further declines if breached.

According to a statement by JS Global, a fall below the 30-DMA could continue the market's corrective trend with further targets of 112,014 and 110,134. Conversely, any upward movement would likely encounter resistance within the 114,110-114,890 range. The technical indicators remain mixed, offering no clear trading direction. Investors are advised to exercise caution, especially at higher levels, and consider waiting for dips before making investment decisions. The report notes that support and resistance levels are currently at 113,350 and 114,604, respectively.

In terms of individual stocks, HBL's price has stabilized, with a potential recovery on the horizon. The recommended strategy is to 'buy on dips,' with targets set at Rs178.16 and Rs182.90, and a stop loss at Rs168.21. For PSO, the stock is maintaining its 30-DMA support, and the strategy remains 'buy on dips,' targeting Rs400.00 and Rs410.00, with a stop loss at Rs388.05.