Karachi: The KSE-100 index of the Pakistan Stock Exchange fell once again, closing at 166,174 points, marking a decline of 1,579 points on a day-over-day basis. Trading volumes were recorded at 1,266 million shares, slightly lower than the previous session's 1,274 million shares.

Market analysts anticipate that the index may test support at the 165,997 level, with further declines potentially targeting 165,121 and 162,113 points. On the upside, any potential gains are expected to face resistance between 166,900 and 167,800 points. Indicators such as the Relative Strength Index and the Stochastic Oscillator have moved downwards, reinforcing a corrective outlook.

Investors are advised to exercise caution at higher levels and consider waiting for market dips. The support and resistance levels are identified at 165,274 and 167,796 points, respectively.

In company-specific insights, D.G. Khan Cement Company (DGKC) is approaching its support level, with a strategy to "buy on dips" targeting prices of Rs250.19 and Rs255.08, and a stop-loss set at Rs237.86.

For Honda Atlas Cars (HCAR), the downside risk appears limited. The recommended strategy also involves "buying on dips," with target prices of Rs306.90 and Rs309.79, and a stop-loss at Rs293.53.

The analysis and recommendations are sourced from a report by JS Global.