Karachi: The KSE-100 index concluded another range-bound session, closing at 170,830 points, reflecting a decrease of 244 points compared to the previous day. Trading volumes increased to 812 million shares, up from 650 million shares in the prior session. Analysts predict the index will fluctuate between support levels of 170,070 and 170,450, with a potential downtrend if these levels are breached. Conversely, any upward movement may encounter resistance between 171,400 and 171,590, with further gains targeting 173,031 and 175,883 points. Key indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) continue to decline, suggesting investors approach with caution. Current support and resistance are identified at 170,452 and 171,398 points, respectively.

In stock-specific updates, Pakistan Petroleum Limited (PPL) is anticipated to resume its upward trend. Analysts recommend a 'buy on dips' strategy for PPL, with price targets set at Rs223.90 and Rs228.59, and a stop-loss at Rs217.60.

Habib Bank Limited (HBL) is expected to consolidate, with a similar 'buy on dips' strategy advised. The target prices are Rs322.90 and Rs332.10, with a stop-loss at Rs316.27.

These insights are derived from a report by JS Global.