BOP Bank of Punjab Limited Mid-Term Analysis 09 May 2016

Rebound Insight

Our Pivot: 7.74

Our Preference: Buy BOP above 8.75 and average it out till 8.33 with strict stop loss of 7.74 and target at 9.80 with extension towards 10.16.

Alternate Scenario: Downward penetration of 7.74 will call for 7.50 and 7.11.

NOTE: BOP have penetrated its bearish trend line in upward direction and its going to face a strong support around 8.75 Rs from a horizontal supportive region along with two storng supportive trend lines.

Recommendations:

Buy above 8.75 and average it out till 8.33 with target at 9.80.

Chart with Supports and Resistances: