Karachi: The KSE-100 index, a benchmark for the Pakistan stock market, witnessed a recovery as it added 249 points, closing at 171,402. Trading volumes reached 641 million shares, marking a slight decrease from the previous session's 693 million shares. The index is testing resistance at the 200-day moving average (DMA) of 172,313, and a break above this level could push it towards the 30-DMA at 174,798. On the downside, support is expected between 170,500 and 170,870, with a potential target at the recent low of 166,141 if these levels are breached.

According to JS Global, the Relative Strength Index (RSI) and the Stochastic Oscillator are showing upward movement, indicating a recovery trend. Investors are advised to 'Buy on dips' with risk management below the 169,400 level. Current support and resistance stand at 170,952 and 171,766, respectively. In other market movements, Pakistan Petroleum Limited (PPL) closed above key averages, with a strategy of 'Buy on dips' targeting Rs233.65 and Rs240.84, and a stop loss at Rs225.77. Meanwhile, DG Khan Cement Company (DGKC) shows a bullish RSI, recommending a 'Buy on dips' strategy targeting Rs202.98 and Rs206.03, with a stop loss at Rs195.53.