ATRL Attock Refinery Ltd. Mid- Term Analysis 02 May 2016

Turning Down

Our Pivot: 279

Our Preference: Start short sell from current price and average it out till 268 with strict stop loss of 279 and target at 225 with extension towards 210.61.

Alternate Scenario: Upward penetration of 279 will call for 288 and 301.

NOTE: ATRL is moving in a bearish weekly channel and right now its getting resistances from resistant trend line of said channel along with a horizontal resistance.

Recommendations: Start short sell from current price and average it out till 268 with target at 225

Weekly Chart with Supports and Resistances: