Karachi: The KSE-100 index, a key benchmark of the Pakistan Stock Exchange, closed lower at 121,971 points, marking a decrease of 254 points from the previous day. Trading volume also saw a decline, with 1,152 million shares exchanged compared to 1,224 million in the prior session. The current market pattern indicates ongoing consolidation.

The technical outlook suggests that interim support for the KSE-100 index is between the 121,410 and 121,610 levels. A drop below these levels could potentially target the 30-day moving average at 118,272. Conversely, any upward movement is expected to encounter resistance between 122,630 and 123,300. A breakthrough beyond this resistance could aim for the all-time high of 126,718.

Investors are advised to adopt a 'buy on dips' strategy, with a recommended stop-loss set below 121,419. Current support and resistance levels are at 121,560 and 122,636, respectively.

In individual stock movements, Habib Bank Limited (HBL) has been identified with a strategy to 'buy on dips,' aiming for Rs169.80 and Rs173.08, with a stop-loss at Rs163.50. Similarly, Oil and Gas Development Company (OGDC) exhibits a steady uptrend, recommended for purchase on dips with targets of Rs218.99 and Rs222.79, and a stop-loss at Rs210.12.

These insights were provided by JS Global, a prominent investment firm, offering a strategic outlook for investors navigating the current market conditions.