Karachi: The KSE-100 index continued its downward trajectory, closing at 165,124 points after a substantial drop of 1,965 points. Trading volumes increased to 363 million shares from the previous 309 million shares. Market analysts predict further declines, with initial targets at 163,612 and potentially extending to 162,049. Conversely, any potential recovery may encounter resistance between 165,760 and 166,990 points.

According to JS Global, technical indicators such as the RSI and MACD are trending downward, reinforcing a bearish outlook. Investors are advised to exercise caution at present levels. The current support and resistance levels are at 164,533 and 166,352 points, respectively. In specific stock strategies, PSO is recommended for a 'buy on dips' approach, targeting Rs363.90 and Rs366.40 with a stop-loss at Rs355.30. Similarly, ISL is also advised under a 'buy on dips' strategy, aiming for Rs80.88 and Rs82.47, with a stop-loss set at Rs75.43.