Karachi: The KSE-100 index continued its downward trajectory, closing at 172,642 points, reflecting a decrease of 994 points compared to the previous day. Trading volumes increased to 723 million shares, up from 679 million. The index is anticipated to test support at the 200-day moving average (DMA) of 171,960, with a potential fall targeting 169,513. Resistance is expected between 173,730 and 174,870, with a break above these levels suggesting a recovery trend.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are on a downward path, indicating a negative outlook. Investors are advised to exercise caution at current levels, with support and resistance pegged at 171,510 and 173,755, respectively.

In related market strategies, DG Khan Cement (DGKC) is projected to experience a recovery, with a recommended 'buy on dips' approach, targeting prices of Rs202.96 and Rs207.38, and a stop-loss at Rs196.55. The Bank of Punjab (BOP) presents limited downside risk, with a 'buy on dips' strategy targeting Rs35.79 and Rs36.85, and a stop-loss set at Rs34.00.