Karachi: Bears continued to dominate the trading session as the KSE-100 index dropped by 6,408 points, closing at 173,519. Trading volumes increased to 913 million shares compared to 845 million shares traded previously. The index's decline below the 30-day moving average (30-DMA) is expected to limit any potential upside at 177,441. The downside risks include testing support at the previous session's low of 173,349, with further declines potentially targeting the 171,742 level.

According to JS Global, both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators have moved downward, prompting a cautious approach. Investors are advised to remain cautious on the upside and consider buying on dips. Current support and resistance levels are identified at 171,875 and 176,637, respectively.

In other market movements, ATRL's limited downside risk suggests a strategy of buying on dips, targeting price points of Rs899.87 and Rs916.50, with a stop-loss set at Rs885.61. Meanwhile, MLCF showed support at the 50-DMA, with a similar strategy targeting Rs97.06 and Rs99.68, and a stop-loss set at Rs92.46.