DGKC D.G Khan Cement Mid Term Analysis 23rd July 2019

Rebound Insight

Our Pivot: 37.50

Our Preference: Start buying DGKC above 42.50 and average it out till 40.20 with strict stop loss of 37.50 and profit target at 51.60 and 57.

Alternate Scenario: Downward penetration of 37.50 will call for 34 & 31 Rs.

NOTE: DGKC is moving in a downward wedge on weekly chart while daily and weekly momentum indicators are bullish mode and it's expected that it would bounce back from its weekly double bottom.

Weekly Chart with Supports & Resistances: