DGKC DG Khan Cement Short Term Analysis 26th Oct. 2018

Turning Down

Our Pivot: 96.60

Our Preference: Start short selling DGKC below 92.60 and average it out till 93.57 with strict stop loss of 96.60 and profit target at 85.00 with extension towards 81 and 78.

Alternate Scenario: Breakout of 96.60 on daily chart will call for 97.60 and 99.30.

NOTE: DGKC is capped by a strong horizontal resistance on daily and weekly chart and this level also fall on 50% correction of its latest bearish rally.

Daily Chart with Supports and Resistances: