Karachi: The KSE-100 index on the Pakistan Stock Exchange faced a significant downturn, closing at 185,543, a drop of 976 points from the previous day. This decline followed an intraday high of 187,905, marking a notable bearish trend.

Trading volumes increased to 1,434 million shares, compared to 1,329 million shares traded previously. Analysts predict the index could test support at the 185,199 level, with a potential corrective trend leading to further declines to 182,427 and 179,043 if this support fails.

Resistance levels are anticipated between 186,215 and 187,910, with an Engulfing Bear pattern indicating overbought conditions. Experts recommend investors exercise caution, noting support and resistance at 184,527 and 187,232, respectively.

In sector-specific developments, ATRL is in a post-breakout consolidation phase. Analysts suggest a 'buy on dips' strategy, targeting Rs784.85 and Rs807.03, with a stop-loss at Rs745.01. Meanwhile, MLCF's recovery trend continues, with similar 'buy on dips' advice, targeting Rs122.95 and Rs126.12, and a stop-loss at Rs118.60.

These insights are based on data from JS Global, highlighting the cautious approach investors should adopt amid current market conditions.