Karachi: The Karachi Stock Exchange's benchmark KSE-100 index exhibited range-bound activity as it closed at 114,102, marking a marginal decline of 12 points from the previous day. Trading volumes increased slightly to 400 million shares, up from 372 million in the prior session.

Market analysts suggest that the index may continue to test its support at 113,078, the low from the previous session. Should the index fall below this level, it could indicate a resumption of the recent downtrend, with a potential downside target of 110,632. Resistance is anticipated in the range of 114,740 to 115,360, should the index attempt an upward movement.

Technical indicators present a mixed outlook. The Stochastic Oscillator has shown upward movement, while the Relative Strength Index (RSI) suggests weakness, providing no definitive trading view. Investors are advised to exercise caution and consider awaiting dips before making buying decisions.

In individual stock analysis, Attock Refinery Limited (ATRL) is consolidating above its 200-day moving average. The recommended strategy is to 'buy on dips', targeting prices of Rs534.43 and Rs550.78, with a stop loss set at Rs522.00.

Meanwhile, DG Khan Cement Company Limited (DGKC) is setting a new recent high. The strategy for this stock remains 'buy on dips', with target prices of Rs141.71 and Rs144.69, and a stop loss at Rs131.00.

The technical outlook suggests vigilant observation of support and resistance levels at 113,269 and 114,744, respectively, as investors navigate the current market conditions.