Karachi: The KSE-100 index extended its downward trajectory, closing at 182,340, a decrease of 1,789 points. Trading volumes reached 931 million shares compared to 1,273 million shares traded previously. The index has now dropped below the 30-day moving average (DMA), potentially limiting any upward movement to 183,848. A break above this level is necessary to resume the upward trend, while a decline below 180,993 could target the 50-DMA at 178,067.

According to JS Global, the Relative Strength Index (RSI) and the Stochastic Oscillator are both trending downwards, reinforcing a negative outlook. Investors are advised to exercise caution on the higher end, with support and resistance levels at 180,339 and 184,996, respectively.

In related market analysis, HBL is holding at the 50-DMA support, with a strategy to 'buy on dips' targeting Rs342.90 and Rs346.35, and a stop-loss set at Rs333.46. Meanwhile, ISL is testing support at the 200-DMA, with a similar 'buy on dips' strategy targeting Rs103.89 and Rs106.85, and a stop-loss at Rs100.01.