Karachi: The KSE-100 index experienced another session of range bound trading, closing down by 903 points at 169,427. Trading volumes increased slightly, with 792 million shares changing hands compared to 767 million previously. Market analysts indicate that the index may test support at the 30-day moving average (DMA) of 168,484, with further support at the 200-DMA level of 166,363.

According to JS Global, the market could encounter resistance between the 169,830 and 171,220 levels, with a breakthrough potentially targeting the 174,172 level. Investors are advised to adopt a 'Buy on dips' strategy, setting stoplosses below the 30-DMA. Current support and resistance levels for the index stand at 168,939 and 170,323, respectively.

In other market movements, the International Steels Limited (ISL) shows a bullish pattern, with a recommended strategy of 'Buy on dips', targeting Rs87.36 and Rs92.00, with a stoploss at Rs82.79. Similarly, Honda Atlas Cars Limited (HCAR) is resuming its uptrend, with targets set at Rs280.65 and Rs286.00, and a stoploss at Rs274.92.