Karachi: The Karachi Stock Exchange's KSE-100 index concluded a range-bound trading session at 165,931 points, marking an increase of 779 points from the previous day. Trading volumes were recorded at 380 million shares, a decrease from the 447 million shares traded in the prior session.

According to JS Global, the index is poised to encounter resistance between the 166,240 and 167,150 levels. A breakthrough above this range could aim for the 30-day moving average at 168,331. Conversely, any downward movement is expected to find support within the range of 164,730 to 165,640. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators have risen, indicating a positive outlook. Investors are advised to 'buy on dips,' with a risk threshold set below the 164,732 level. Support and resistance levels are identified at 165,028 and 166,538, respectively.

In stock-specific updates, Oil and Gas Development Company (OGDC) is projected to continue its recovery, with a recommended strategy of 'buy on dips,' targeting price levels of Rs306.73 and Rs309.50, and a stop-loss at Rs298.71. Meanwhile, the Bank of Punjab (BOP) has seen its RSI generate a buy signal, suggesting a 'buy on dips' strategy with targets set at Rs29.13 and Rs30.23, and a stop-loss at Rs28.02.