EFERT Engro Fertilizer short-term analysis 28th Sep. 2020

Further Advance

Our Pivot: 59.30

Our Preference: Start buying EFERT above 61.10 and average it out till 60.30 with strict stop loss of 59.30 and profit target at 64.80 with extension towards 66.10. 

Alternate Scenario: Downward penetration of 59.30 will call for 58.50 and 56.10.

NOTE: EFERT is being supported by a rising trend line along with a strong horizontal supportive region after completion of its 74.6% correction on daily chart.

Daily chart with supports & resistances: