Karachi: The KSE-100 index continued its downward trend, closing at 113,252 points, marking a decrease of 533 points from the previous day. Trading volumes surged to 472 million shares, up from the prior session's 397 million shares, reflecting heightened market activity.

According to a statement by JS Global, the index has fallen below its 50-day moving average, with potential support at 113,159, aligning with the 30-day moving average. A drop below this threshold could further the downtrend, initially targeting 111,513 points. Conversely, any upward movement will face resistance between 113,570 and 114,270 points. Indicators such as the Relative Strength Index and the Stochastic Oscillator suggest market weakness, prompting caution among investors. The support and resistance levels are projected at 112,880 and 113,945, respectively.

For International Steels Limited (ISL), the strategy is to consolidate above the 200-day moving average with a 'buy on dips' approach, targeting Rs84.96 and Rs88.72, and maintaining a stop-loss at Rs80.66. Meanwhile, Sui Northern Gas Pipelines Limited (SNGP) is testing the 50-day moving average, with a similar 'buy on dips' strategy, targeting Rs96.57 and Rs102.85, and a stop-loss at Rs91.63.