Karachi: The KSE-100 index experienced a drop, closing at 177,374, a decrease of 1,710 points from the previous day. Trading volumes also declined, with 1,070 million shares exchanged compared to 1,248 million shares in the prior session. As the index approaches a support level of 177,272, a further decline could push it towards 176,273 and potentially 174,369. Resistance is anticipated between 178,310 and 179,370 for any upward movement.

According to JS Global, technical indicators such as the Relative Strength Index and the Stochastic Oscillator indicate market weakness, suggesting that investors should adopt a cautious approach at the current levels. The report highlights that the support and resistance levels are at 176,327 and 179,365, respectively.

In specific stock strategies, OGDC is recommended for a 'buy on dips' approach, targeting Rs318.45 and Rs319.80, with a stop loss set at Rs311.50. Similarly, NETSOL is advised to be played within its range, targeting Rs119.03 and Rs120.99, and a stop loss at Rs116.01.