Karachi: The KSE-100 index closed at 177,697 points, marking an increase of 374 points from the previous day, as range-bound activity persisted in the market. Trading volumes rose to 658 million shares compared to 614 million shares traded earlier. The index's position above the 30-day moving average (30-DMA) suggests a support level at 177,508, although a decline below this point could see targets of 176,110 and 174,416. On the upside, resistance is expected at the 50-DMA of 178,849, with a potential target of 179,965 if breached. Investors are advised to exercise caution at higher levels and consider buying on dips.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) have shown improvement, while the Moving Average Convergence Divergence (MACD) is trending downward, supporting a neutral outlook on the market. The support and resistance levels are identified at 177,227 and 178,104, respectively.

In individual stock strategies, PSO is currently reaching its support zone with a recommendation to 'buy on dips,' targeting Rs367.62 and Rs372.09, with a stop-loss at Rs354.51. Meanwhile, HBL is maintaining a steady uptrend with a similar strategy, targeting Rs331.90 and Rs336.95, and a stop-loss at Rs320.00.