Karachi: The KSE-100 index witnessed a significant decline, closing at 150,399 points, down by 1,613 points day-on-day. Trading volumes increased to 472 million shares, compared to 352 million shares previously. The market is anticipated to test support at the 148,797 level, with a potential fall targeting the recent low of 144,119 points. However, resistance is expected between the 150,430-152,110 levels, with a breakthrough targeting the 200-day moving average at 159,732 points.

According to JS Global, the current indicators present a mixed picture, offering no clear trading view. Investors are advised to remain cautious at higher levels and consider buying during market dips. The defined support and resistance levels stand at 148,762 and 152,069, respectively.

In the energy sector, PSO's share price has stabilized, with a recovery anticipated. The recommended strategy is 'buy on dips', targeting prices of Rs346.90 and Rs355.20, with a stop-loss at Rs329.00. Similarly, OGDC is experiencing consolidation above its 200-day moving average, with a 'buy on dips' strategy targeting Rs275.45 and Rs284.89, and a stop-loss set at Rs266.21.