Karachi: The KSE-100 index experienced another day of range-bound trading, closing at 164,742 points, marking an increase of 794 points from the previous day. The volume of shares traded stood at 453 million, down from the previous session's 697 million shares. The index is currently positioned above the 200-day moving average, which is expected to limit any downside to 163,462 points, with further support at the 50-day moving average of 160,558 points. A breakthrough above 164,920 points, the high from the previous day, could potentially lead to gains extending towards 169,604 points.

According to JS Global, the Relative Strength Index (RSI) and the Stochastic Oscillator have both risen, indicating a positive trend for the index. The recommendation for investors is to 'Buy on dips' with a stop loss set below the 200-day moving average. The current support and resistance levels are identified at 163,210 and 165,598 points, respectively.

In specific stock movements, SNGP is expected to continue its consolidation phase. The strategy recommended is to 'Buy on dips' with targets set at Rs99.82 and Rs103.22, and a stop loss at Rs95.82. Meanwhile, OGDC is resuming its uptrend, with a suggested 'Buy on dips' approach targeting Rs316.72 and Rs322.08, and a stop loss at Rs301.25.