Karachi: The KSE-100 index experienced a turbulent trading session, closing at 167,642, a decline of 420 points. Trading volumes reached 776 million shares, an increase from the previous 736 million shares. Analysts suggest the index may face resistance between 169,280 and 170,000 levels. A breakthrough above these levels could renew upward momentum, while a decline below 167,445 might trigger a corrective trend.

Technical indicators show mixed signals, with the Relative Strength Index moving down and the Moving Average Convergence Divergence pointing upwards. Experts advise investors to remain cautious and consider buying on dips.

In stock-specific strategies, International Steels Limited (ISL) is recommended for purchase on dips, with price targets set at Rs99.99 and Rs102.93, and a stop-loss at Rs94.24. Meanwhile, DG Khan Cement (DGKC) is also advised for buying on dips, targeting Rs233.81 and Rs234.90, with a stop-loss at Rs226.71.

Market analysts emphasize the importance of monitoring key support and resistance levels, noted at 166,962 and 168,805, respectively, to navigate the current market environment effectively.