Karachi: The KSE-100 index continued its downward trajectory, closing at 138,693, marking a decrease of 562 points from the previous day. The trading volumes registered at 649 million shares, slightly lower than the 657 million shares recorded in the prior session, as reported by JS Global.

Analysts suggest that the index might test its support level at 138,150. Should it fall below this threshold, a corrective trend could emerge, potentially pushing the index down to targets of 137,430 and 135,481. On a more optimistic note, resistance is anticipated in the 139,050-139,500 range. Surpassing this zone might lead the index to revisit its all-time high of 140,585.

Amid these fluctuations, market experts advise investors to exercise caution at elevated levels and consider waiting for potential dips before making further investment decisions. Key support and resistance levels are identified at 138,249 and 139,502, respectively.

In related stock movements, ATRL is predicted to resume its uptrend. The recommended strategy is a 'buy on dips' approach, with targets set at Rs683.85 and Rs690.75, and a stoploss at Rs662.21. Meanwhile, BOP is testing its recent high, with a similar 'buy on dips' strategy advised, targeting Rs14.00 and Rs14.71, with a stoploss at Rs13.00.