Karachi: The KSE-100 index continued its downward trajectory, closing at 169,600, a decrease of 825 points from the previous day. The trading volume increased to 568 million shares, up from the prior session's 421 million shares, suggesting heightened activity amid the decline.

According to JS Global, the index is poised to test support at 169,538, with a potential further drop to targets of 168,670 and 166,141 if it breaches this level. The index will encounter resistance in the 170,020-170,950 range, with a significant barrier at the 200-day moving average of 172,404. The RSI and Stochastic Oscillator indicators continue to indicate a negative trend, prompting a cautious approach from investors. The immediate support and resistance levels are identified at 169,111 and 170,517, respectively.

In specific stock strategies, OGDC is recommended for purchase on price dips with targets set at Rs320.41 and Rs323.19, and a stop loss at Rs315.00. Similarly, ISL is advised for acquisition on dips, aiming for Rs82.40 and Rs84.58, with a stop loss positioned at Rs77.20.