Karachi: The KSE-100 index experienced a further decline, closing at 171,204, a decrease of 200 points from the previous day. Trading volumes registered at 685 million shares, a drop from the 798 million shares traded earlier. The index is predicted to move within a range, with support expected between the 170,100 and 170,860 levels. A drop below this range could signal a corrective trend, while any upward movement will encounter resistance between 171,410 and 172,170 levels. Breaking above this resistance could target levels of 173,031 and 175,883. Mixed momentum indicators suggest an uncertain trading outlook. Investors are advised to exercise caution on the higher side and consider buying on dips.

In stock-specific analysis, Pakistan State Oil (PSO) has reportedly completed its correction phase. The suggested strategy is to 'buy on dips' with target prices set at Rs459.84 and Rs464.84, and a stop loss at Rs453.43.

For International Steels Limited (ISL), the recommendation is to 'buy on dips' as well, with target prices of Rs113.20 and Rs116.51, and a stop loss set at Rs106.00.

These insights and strategies were shared by JS Global, providing guidance to investors navigating the current market environment.