Karachi: The KSE-100 index continued its downward trajectory, closing at 111,935, a decrease of 810 points. The trading volume increased to 436 million shares, compared to the previous 401 million shares. The index is anticipated to test support at the 50-day moving average (DMA) of 111,584. A drop below this support level could lead to further declines to 110,618 and 108,412, while any upward movement will face resistance between 112,470 and 113,120.

According to a statement by JS Global, the relative strength index (RSI) and the moving average convergence divergence (MACD) are trending downward, prompting a cautious approach for investors. The current support and resistance levels are at 111,293 and 113,114, respectively.

In stock-specific news, DGKC is trading above key averages, with a strategy recommendation to 'buy on dips' targeting Rs109.20 and Rs111.10, with a stop-loss at Rs103.48. Meanwhile, ISL has support at its 200-DMA, with a similar 'buy on dips' strategy targeting Rs82.57 and Rs86.35, and a stop-loss at Rs79.71.