The KSE-100 index experienced a negative session, closing at 115,042, down by 803 points from the previous day. Trading volumes increased to 767 million shares compared to 675 million shares traded earlier.
According to a statement by JS Global, the index is anticipated to test support at 114,784, which was the low point of the previous session. A fall below this level will target the 30-day moving average (DMA), which currently stands at 113,739. On the upside, resistance is expected to persist between 115,410 and 116,430.
Investors are advised to exercise caution on the higher side and consider waiting for dips before making decisions. The support and resistance levels are identified at 114,409 and 116,050, respectively.
In sector-specific activities, DG Khan Cement (DGKC) is trading above key averages with a strategy recommendation of ‘buy on dips’, targeting Rs109.30 and Rs111.97, with a stop-loss at Rs102.24.
Meanwhile, Attock Refinery Limited (ATRL) is expected to continue its downward slide. The strategy suggested is ‘sell on strength’, targeting Rs635.25 and Rs623.04, with a stop-loss set at Rs664.00.