ENGRO Engro Corporation Mid-Term Analysis 24th Jan 2019

Turning Down

Our Pivot: 345

Our Preference: Start short selling ENGRO below 337.60 and average it out till 342 with strict stop loss of 345 and profit target at 321 with extension towards 313.

Alternate Scenario: Upward penetration of 345 will call for 354.

NOTE: Capped by major resistant trend line with a horizontal resistant region.

Weekly Chart with Supports & Resistances: