AICL Adam Ji Insurace Limited Analysis 13 April 2016

Key Resistance at 58.47

Our Pivot: 58.47

Our Preference: Short sell below 55.48 and average it out till 57.13 with strict stop loss of 58.47 and profit target at 52.95 and 51.50.

Alternate Scenario: Upward penetration of 58.47 will call for 59.44.

NOTE: AICL is moving in a bearish trend channel and right now its getting resistances from resistant trend line of said channel along with a strong horizontal resistance. Weekly Stochastic is also ready for a pull back.

Recommendations:

Short sell below 55.48 and average it out till 57.13 with target at 52.95 and 51.50.

Weekly Chart with Supports and Resistances: