EFERT Engro Fertilizer short-term analysis 14th Dec. 2020

Rebound Insight

Our Pivot: 58.45

Our Preference: Start buying EFERT from current price and average it out till 59.50 with strict stop loss of 58.45 and profit target at 63.66 with extension towards 65.70.

Alternate Scenario: Downward penetration of 58.45 will call for 56.10.

NOTE: EFERT is moving in a bullish price channel on daily chart and it's being supported by supportive trend line of that channel. Meanwhile daily momentum indicators are in bullish mode.

Chart with supports & resistances: