Karachi: The KSE-100 index closed with a decline of 418 points, settling at 174,054, amid increased trading activity with volumes rising to 957 million shares from the previous 851 million. The index is anticipated to navigate a range-bound path, with its immediate support at 173,564. Breaching this level could trigger a corrective phase, with potential declines towards 172,395 and 170,641.

Conversely, any upward movement is likely to encounter resistance in the 175,000-175,240 range, with a successful breach possibly leading to targets of 175,883, and potentially 180,500. Market indicators present mixed signals, as the MACD trends upwards while the RSI reflects weakness, creating an unclear trading perspective. Investors are advised to exercise caution and consider buying during market dips.

In individual stock updates, NETSOL Technologies closed above its 50-day moving average. The recommended strategy is to 'buy on dips,' with price targets set at Rs137.57 and Rs140.00, and a stop-loss at Rs130.70.

Meanwhile, HBL continues its post-breakout consolidation phase. The suggested approach remains 'buy on dips,' aiming for targets of Rs326.99 and Rs332.10, with a stop-loss at Rs318.80.

These insights come from JS Global, offering guidance amid fluctuating market conditions.