Karachi: The KSE-100 index experienced a negative trajectory, closing at 179,847, a decrease of 1,464 points from the previous day. Trading volumes fell to 860 million shares compared to 917 million shares traded earlier. Analysts suggest that the index may test its support level at the 30-day moving average (DMA) of 178,930, with further declines potentially targeting the 50-DMA at 177,299. Any upward movement could encounter resistance between 180,215 and 181,450, with a breakthrough potentially reaching 183,634 and the all-time high of 191,033.

According to JS Global, the recommendation for investors is to 'Buy on dips' with a stop loss set below the 30-DMA. Support and resistance levels are currently at 179,411 and 180,650, respectively. The report also outlines strategies for specific stocks, including International Steels Limited (ISL) and Habib Bank Limited (HBL), advising a 'Buy on dips' approach for both, with ISL targeting Rs90.23 and Rs95.85, and HBL aiming for Rs341.38 and Rs345.42, with respective stop losses at Rs86.38 and Rs323.26.