Karachi: The KSE-100 index experienced a downturn, closing at 168,637, marking a decrease of 1,332 points from the previous day. Trading volumes were recorded at 548 million shares, a decline from the previous 591 million shares. The index appears to be approaching its recent low of 166,141, with potential further decreases to 163,612 and 162,049. Resistance is anticipated between 169,300 and 170,690, with support and resistance levels identified at 167,907 and 170,028, respectively.

According to JS Global, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have declined, reinforcing a bearish outlook. Investors are advised to exercise caution under current conditions. Meanwhile, OGDC is approaching its 200-day moving average support, with a strategy to 'buy on dips' targeting Rs317.45 and Rs319.57, with a stoploss at Rs308.72. Additionally, ISL's formation indicates further consolidation, recommending a 'buy on dips' strategy targeting Rs82.40 and Rs84.58, with a stoploss at Rs77.20.