Karachi: The KSE-100 index experienced a downturn, closing the session at 161,282, marking a decline of 1,521 points. Trading volumes were recorded at 899 million shares, a decrease from the previous 949 million. The index is anticipated to fluctuate between the 50-day moving average (DMA) of 159,823 and the 30-DMA of 163,604. A movement beyond these levels is required for a clear trend to emerge. The Relative Strength Index (RSI) has declined, while the Stochastic Oscillator shows an upward trajectory, providing no definitive trading perspective. Investors are advised to remain cautious, particularly on the higher side, and to consider buying during dips. Current support and resistance levels are at 160,499 and 162,725, respectively.

In individual stock news, Honda Atlas Cars (HCAR) closed above key averages. The recommended strategy is to 'buy on dips,' targeting prices of Rs304.29 and Rs310.32, with a stop-loss set at Rs291.90.

International Steels Limited (ISL) shows support at the 200-DMA, with a strategy of 'buy on dips' advised, aiming for Rs99.60 and Rs102.44, and a stop-loss at Rs93.69.

This analysis and strategy recommendation are provided by JS Global.