Karachi: The KSE-100 index experienced a turbulent trading session, closing at 171,579 points, a decrease of 1,576 points from the previous day. Trading volumes were slightly lower, with 1,054 million shares exchanged compared to 1,165 million shares in the prior session. Market analysts suggest that the index may test support levels between 169,900 and 170,740, with potential further declines targeting the 50-day moving average at 162,332. Conversely, any upward movement could encounter resistance in the 172,090-173,450 range, with a breakthrough pointing to 179,280. Given the mixed signals from RSI and MACD indicators, investors are advised to remain cautious and consider buying on market dips.

According to JS Global, specific stocks such as PSO and DGKC are recommended for a 'buy on dips' strategy. For PSO, the target prices are set at Rs397.60 and Rs401.00, with a stop-loss at Rs382.51. DGKC's targets are Rs193.50 and Rs197.89, with a stop-loss at Rs184.36. These recommendations highlight the importance of strategic buying during periods of market volatility and emphasize the need for investors to carefully evaluate entry points to optimize returns.