DGKC DG Khan Cement short term analysis 16th Oct. 2020
Downside Prevails
Under Pressure
Our Pivot: 109.67
Our Preference: Start short selling DGKC below 106.38 and average it out till 108 with strict stop loss of 109.67 and profit target at 103.80 with extension towards 101.90.
Alternate Scenario: Upward penetration of 109.67 will call for 111.
NOTE: DKGC have given breakout of its triangle in bearish direction on hourly chart after facing rejection from correction of its last bearish rally.
Hourly chart with supports & resistances:
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