Karachi: The KSE-100 index experienced a downturn, closing at 170,447, a decrease of 294 points from the previous day. Trading volumes increased to 1,177 million shares, up from 906 million shares previously. Analysts suggest that the index may retest its support level at 170,192, with a potential decline to 168,192 if it falls below this threshold. Resistance is expected between 170,850 and 171,925 levels, though market indicators remain mixed, offering no definitive trading direction.

Investors are advised to remain cautious, especially regarding potential upswings, and to consider waiting for price dips. Current support and resistance levels are noted at 169,785 and 171,515, respectively.

In specific stock strategies, Pakistan State Oil (PSO) is approaching its support level, with a recommended "buy on dips" strategy targeting Rs471.33 and Rs476.17, and a stoploss at Rs456.23. United Bank Limited (UBL) is gaining momentum, with a similar "buy on dips" strategy advised, targeting Rs395.00 and Rs404.70, with a stoploss at Rs384.01.

This analysis and strategic guidance are provided by JS Global, reflecting the current cautious market outlook.