Karachi: The KSE-100 index experienced a significant decline, closing at 182,338 points, a decrease of 6,042 points day-over-day. Trading volumes slightly decreased to 933 million shares from the previous 954 million. The index is nearing the 30-day moving average (DMA) support level of 181,129, with further decline potentially targeting the 50-DMA at 175,404. Resistance is expected between 184,400 and 186,850 levels.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are trending downwards, reinforcing a negative outlook. Investors are advised to remain cautious and consider waiting for dips before making decisions. Support and resistance levels are identified at 179,891 and 186,854, respectively.

In individual stock strategies, Habib Bank Limited (HBL) is recommended for a 'buy on dips' approach, targeting prices of Rs342.07 and Rs347.13, with a stop loss at Rs327.92. Similarly, International Steels Limited (ISL) is nearing its 200-DMA support, with a strategy of 'buy on dips' targeting Rs108.00 and Rs111.16, and a stop loss at Rs99.61.