Karachi: The KSE-100 index concluded another range-bound trading session, closing at 176,134 points, marking an increase of 206 points. Trading volumes reached 1,003 million shares, up from 676 million shares in the previous session. The index is anticipated to test resistance at the 30-day moving average (30-DMA) of 178,368. A successful breach above this level could signal a continuation of the uptrend, with the next target at 182,481. Conversely, support is expected at the 50-DMA level of 174,615, guiding investors to consider a 'Buy on dips' strategy with risk management below the 50-DMA.

According to JS Global, the support and resistance levels are identified at 175,340 and 177,648, respectively. In the context of specific stocks, Pakistan Petroleum Limited (PPL) is projected to undergo consolidation, with a recommended strategy of 'Buy on dips', targeting price levels of Rs222.55 and Rs225.87, and a stop-loss at Rs216.41. Similarly, Maple Leaf Cement Factory (MLCF) is advised to be traded within the range, with targets set at Rs97.70 and Rs99.36, and a stop-loss at Rs92.55.