Karachi: The KSE-100 index ended a volatile trading session with an increase, closing at 170,765, up 266 points from the previous day. Trading volumes were recorded at 483 million shares, a decrease from the 760 million shares traded earlier. The index is anticipated to encounter support at the recent low of 169,890, with further targets set at 168,670 and then 166,141 if it falls below the support level. On the upside, resistance is expected at the 200-day moving average, which is currently at 172,370.

According to JS Global, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have improved, providing a supportive outlook. Investors are advised to adopt a 'Buy on dips' strategy, maintaining risk below the 169,890 level. Key support and resistance points are identified at 170,050 and 171,320, respectively.

In stock-specific strategies, Pakistan Petroleum Limited (PPL) is seen with limited downside risk. The recommendation is to 'Buy on dips' with price targets of Rs236.50 and Rs240.84, and a stop-loss set at Rs226.10. Meanwhile, United Bank Limited (UBL) is expected to consolidate above its 233-day exponential moving average, with a 'Buy on dips' approach targeting Rs432.89 and Rs439.08, and a stop-loss positioned at Rs423.00.