Karachi: The KSE-100 index experienced a decline, closing at 113,862 with a decrease of 666 points from the previous day. Trading volumes increased significantly to 640 million shares, up from 496 million in the last session. The index remains above the 50-day moving average (DMA), which is expected to limit further declines at 113,387, followed by the 30-DMA at 113,201.

According to a statement by JS Global, any upward movement for the KSE-100 will encounter resistance between 114,150 and 114,760. The relative strength index (RSI) has decreased, while the moving average convergence divergence (MACD) is on the rise, indicating no clear trading direction. Investors are advised to 'Buy on dips', with risk management recommended below the 50-DMA. Current support and resistance levels are at 113,553 and 114,467, respectively.

In other market movements, ISL has rebounded from its 200-DMA. The recommendation is to 'Buy on dips', targeting prices of Rs85.96 and Rs89.00, with a stop-loss set at Rs80.59. Meanwhile, SNGP is expected to consolidate below the 30-DMA, with a similar 'Buy on dips' strategy targeting Rs91.95 and Rs93.70, and a stop-loss at Rs87.90.