Karachi: The KSE-100 index experienced a downward shift, closing at 160,935 after reaching a high of 162,345, marking a decrease of 752 points. Trading volumes increased to 1,546 million shares compared to the previous 1,214 million. The index remains below the 50-day and 30-day moving averages, which pose resistance at 161,520 and 162,101 levels, respectively.

Analysts caution that any downward movement may test the 160,583 level, with potential further declines targeting the recent low of 157,203. Technical indicators such as the RSI and the Stochastic Oscillator suggest a negative outlook, urging investors to remain cautious.

In contrast, Sui Northern Gas Pipelines Limited (SNGP) displays a recovery trend. The recommended strategy is to 'buy on dips,' with price targets set at Rs123.45 and Rs129.35, and a stoploss at Rs116.62.

Attock Refinery Limited (ATRL) also presents investment opportunities with a strategy to 'buy on dips.' The moving average is expected to restrict downside movement, with targets at Rs691.57 and Rs705.81, and a stoploss at Rs671.54.

These insights were provided by JS Global, highlighting key technical levels and strategic recommendations for market participants.