Karachi: The KSE-100 index experienced a turbulent session, closing at 168,575, a drop of 877 points. Trading volumes rose to 1,289 million shares compared to 1,191 million in the previous session. Analysts anticipate the index may retest the support level of 168,549, suggesting a potential corrective trend aiming for 165,886 if the support is breached. Conversely, any upward movement could encounter resistance between 169,140 and 170,300. Technical indicators such as the MACD are moving upwards, while the RSI is declining, offering no definitive trading outlook. Investors are advised to exercise caution and consider purchasing during market dips. The designated support and resistance levels are 167,981 and 169,735, respectively.

In specific stock movements, Pakistan Petroleum Limited (PPL) is advised as a 'buy on dips,' with targets set at Rs223.00 and Rs227.15, and a stop loss at Rs214.70. Similarly, United Bank Limited (UBL) is expected to continue its consolidation phase, with 'buy on dips' strategies targeting Rs379.48 and Rs384.00, and a stop loss at Rs372.72.

This analysis was provided by JS Global, offering insights into the current market conditions and potential strategies for investors in Pakistan's stock market.