Karachi: The KSE-100 index, a key benchmark of the Pakistan Stock Exchange, experienced a downturn, closing at 171,404 points, marking a decrease of 556 points from the previous day. Trading volumes also declined to 798 million shares compared to 950 million shares in earlier sessions. Analysts anticipate that the index will encounter resistance at levels between 171,740 and 172,680, with potential targets set at 173,031 and 175,883 if it breaks through. Conversely, support is expected in the 170,210-171,150 range.

The market indicators present mixed signals, with the Relative Strength Index (RSI) moving downwards and the Stochastic Oscillator trending upwards, leaving investors without a definitive trading direction. As a result, experts advise a 'Buy on dips' strategy, suggesting a stop-loss at 170,217 to mitigate risks.

In other market movements, Pakistan State Oil (PSO) is projected to resume its recovery trend. Investors are encouraged to 'Buy on dips', aiming for price targets of Rs464.35 and Rs470.40, while maintaining a stop-loss at Rs453.07.

Similarly, International Steels Limited (ISL) is expected to recover, with analysts recommending a 'Buy on dips' approach. The company aims for target prices of Rs112.49 and Rs116.51, with a stop-loss set at Rs106.00.

These insights are provided by JS Global, offering a strategic roadmap for market participants navigating the current volatility.