Karachi: The KSE-100 index experienced a turbulent trading session, closing at 166,259, marking a decrease of 1,433 points on a day-over-day basis. Trading volumes increased to 688 million shares, compared to 461 million shares in the previous session. The market is predicted to test its support level at 163,908, with the possibility of further decline targeting 159,464. Potential gains will encounter resistance within the 169,240 to 171,800 range.

According to JS Global, both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators suggest a continued bearish outlook, warranting a cautious approach. The specified support and resistance levels are 163,698 and 169,028, respectively. In stock-specific strategies, DGKC is advised for purchase during price dips with targets set at Rs216.50 and Rs224.61, and a stop loss at Rs208.23. Similarly, ISL is projected to recover, with a recommended buy-on-dips strategy targeting Rs93.89 and Rs98.15, and a stop loss at Rs87.00.