Karachi: The KSE-100 index experienced a volatile trading session, closing at 177,624 points, marking a decline of 638 points from the previous day. Trading volumes decreased to 958 million shares, compared to 1,032 million shares traded previously. The index is anticipated to fluctuate between the 50-day and 30-day moving averages, set at 174,974 and 179,110, respectively, requiring a breakout for a clear directional move.

According to JS Global, the Relative Strength Index (RSI) indicates weakness while the Stochastic Oscillator has risen, providing no definitive trading perspective at this time. Investors are encouraged to 'Buy on dips', with risk parameters established below the 50-day moving average. The index's support and resistance levels are positioned at 176,998 and 178,686, respectively.

In specific stock news, Maple Leaf Cement Factory (MLCF) is expected to consolidate, with a recommended strategy of 'Buy on dips', targeting prices of Rs99.01 and Rs101.17, and a stop-loss set at Rs94.61. Habib Bank Limited (HBL) shows limited downside potential, with a 'Buy on dips' strategy targeting Rs311.17 and Rs316.92, and a stop-loss at Rs303.44.