DGKC DG Khan Cement short term analysis 5th Jan. 2021

Under Pressure

Our Pivot: 116.30

Our Preference: Start short selling DGKC below 111.77 and average it out till 114.30 with strict stop loss of 116.30 and profit target at 107.75 with extension towards 104.30.

Alternate Scenario: Upward penetration of 116.30 will call for 118.50 and 119.70.

NOTE: DGKC is moving in a descending price channel and right it's moving downward after facing rejection from resistant trend line of said channel.

Chart with supports & resistances: