Karachi: The KSE-100 index experienced a volatile trading session, closing at 171,021, marking a decline of 718 points from the previous day. Trading volumes increased to 580 million shares, compared to the 525 million shares traded earlier. Market analysts predict that the index may re-test support at the 200-day moving average (DMA), which is currently at 169,698. A drop below this level could signal a further bearish trend targeting 163,785 and 160,909 levels. On the upside, resistance is anticipated between 172,650 and 174,650.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are trending downward, reinforcing a negative outlook. Investors are advised to remain cautious as support and resistance levels are identified at 169,450 and 172,655, respectively.

Among individual stocks, Attock Refinery Limited (ATRL) is expected to consolidate, with a strategy of 'buy on dips' targeting Rs939.68 and Rs949.55, and a stop-loss set at Rs910.00. Meanwhile, NETSOL Technologies exhibits a bullish divergence, with a similar 'buy on dips' strategy targeting Rs121.60 and Rs125.00, and a stop-loss at Rs116.10.