Karachi: The KSE-100 index, a key benchmark of the Pakistan Stock Exchange, continued its downward trend, closing at 184,410, a decline of 1,133 points from the previous day. Trading volumes also saw a decrease, with 1,034 million shares exchanged compared to 1,434 million shares in the previous session.

Market analysts suggest that if the current decline persists, the index could fall further to levels of 182,427 and potentially down to 179,043. Conversely, any upward movement may face resistance between 184,760 and 186,180. A breakthrough beyond these levels could signal a return to the upward trend, aiming for 188,870.

Technical indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator are overbought, advising investors to maintain a cautious approach. Current support and resistance levels stand at 183,347 and 185,826, respectively.

In related analysis, Attock Refinery Limited (ATRL) is expected to continue its post-breakout consolidation phase. Market strategy advises a 'buy on dips' approach, with target prices of Rs764.00 and Rs784.85, and a stoploss set at Rs745.01.

Similarly, International Steels Limited (ISL) has reportedly completed its correction phase, with a recovery anticipated. A 'buy on dips' strategy is recommended, targeting Rs111.85 and Rs114.34, with a stoploss at Rs106.75.

This analysis, provided by JS Global, underscores the need for investor vigilance in light of current market conditions.