Karachi: The KSE-100 index experienced a volatile trading session, closing at 163,038 points, which marks an increase of 664 points from the previous day. Despite a decrease in trading volume to 376 million shares from 399 million, the index is projected to test resistance at 163,477 points. A breakthrough at this level could drive the index to targets of 163,967 and 165,648 points. Conversely, any downward movement would find support at the previous day's low of 161,250 points, with further potential decline to 159,520 points.

According to JS Global, technical indicators such as the RSI have shown improvement, though the MACD remains on a downward trajectory, offering no definitive trading direction. Investors are advised to exercise caution and consider purchasing during market dips. Key support and resistance levels are identified at 161,700 and 163,927 points, respectively. In terms of individual stocks, OGDC is recommended for a 'buy on dips' strategy targeting Rs305.28 and Rs308.46, with a stoploss set at Rs295.51. Similarly, UBL is showing positive indicators, with a strategy of 'buy on dips,' targeting Rs413.14 and Rs417.60, and a stoploss at Rs395.55.