Karachi: The KSE-100 index exhibited a negative trend, closing at 162,103 points, a decrease of 834 points from the previous day. Trading volumes increased to 768 million shares from 726 million shares previously recorded. Analysts anticipate the index may consolidate above key averages, yet it faces potential volatility.

Market observers suggest that the index is likely to test support levels between 161,850 and 161,915 points. A breach below these levels could signal a continuation of the downtrend. Conversely, any upward movement might encounter resistance between 162,430 and 163,360 points.

With mixed indicators providing no clear trading direction, experts advise investors to exercise caution, particularly on potential upward movements, and to consider waiting for market dips. Current support and resistance levels are noted at 161,519 and 163,022 points, respectively.

Specific stock recommendations include a 'buy on dips' strategy for ATRL, targeting prices of Rs682.75 and Rs691.57, with a stop-loss set at Rs661.59. For BOP, recovery is anticipated, with a 'buy on dips' strategy targeting Rs34.56 and Rs35.60, and a stop-loss at Rs32.87.

These insights were provided by JS Global, a leading financial services firm.