ATRL Attock Refinery short-term Analysis 5th Sep. 2018

Rebound Insight

Our Preference: Start buying ATRL above 205 with strict stop loss of 199.60 and profit target at 210.30 and 215 with extension towards 219.

Alternate Scenario: Downward penetration of 199.60 will call for 194.30 and 189.

NOTE: ATRL is caged in a triangle on daily chart and right now it's bouncing back after getting support from a horizontal supportive region along with a supportive trend line. As it had not closed below 204 during last two trading sessions and have maintained its supportive region therefore now it would try to penetrate its resistance at 210.30 after a dip during current trading session. Hourly closing above 210.30 will call for 215 for completion of its last gap. 

Daily Chart with Supports and Resistances: