Karachi: The KSE-100 index of the Pakistan Stock Exchange closed at 181,430, marking a decline of 347 points day-over-day. Trading volumes decreased to 716 million shares from the previous 793 million shares. Despite the downturn, the index remains above the 30-day moving average (DMA), which is expected to limit downside risks at the 178,850 level.

According to JS Global, if the index falls below the 30-DMA, it could potentially target the 50-DMA at 176,989. Conversely, any upward movement is likely to meet resistance between the 181,650 and 182,010 levels, with a further breakthrough possibly aiming for the 183,634 mark and beyond to the 188,120-191,030 range. Momentum indicators are described as mixed, suggesting a neutral outlook. The recommendation for investors is to 'Buy on dips,' with risks clearly defined below the 30-DMA. Support and resistance levels are identified at 180,818 and 181,845, respectively.

For specific stocks, Maple Leaf Cement Factory (MLCF) is experiencing post-breakout consolidation, with a strategy to 'Buy on dips' targeting Rs105.14 and Rs110.20, and a stop loss at Rs98.78. Similarly, Bank of Punjab (BOP) is targeting its recent high, with a 'Buy on dips' strategy aiming for Rs38.08 and Rs39.60, and a stop loss at Rs35.66.