DGKC DG Khan Cement Intra-day Analysis 16th Jun. 2020

Rebound Insight

Our Pivot: 77.50

Our Preference: Start buying DGKC above 78.60 with strict stop loss of 77.50 and profit target at 81.30 with extension towards 82.50

Alternate Scenario: Downward penetration of 77.50 will call for 74 and 72.50.

NOTE: DGKC is getting support from a rising trend line.

Reverse Trade

Our Pivot: 83.80

Our Preference: Start short selling DGKC below 82.50 with strict stop loss of 83.80 and profit target at 78.60 and 77.50.

Alternate Scenario: Upward breakout of 83.80 will call for 85.

NOTE: DGKC is being capped by a strong horizontal resistant region.

Hourly Chart with supports and resistances: