DOL Descon Oxychemicals Ltd. short term analysis 16th Jun. 2020

Turning Down

Our Pivot: 34.20

Our Preference: Start short selling DOL from current price and average it out till 33.50 with strict stop loss of 34.20 and profit target at 29.80 with extension towards 28.50.

Alternate Scenario: Upward breakout of 34.20 will call for 36.50 & 37.

NOTE: DOL is being capped by a strong resistant trend line and chances of a daily evening shooting star have become evident.

Daily chart with Supports & Resistances: