ENGRO Engro Corporation Mid-Term Analysis 29th March 2019

Downside Prevails

Our Pivot: 333

Our Preference: Start short selling ENGRO below 326 and average it out till 330 with strict stop loss of 333 and profit target at 313 with extension towards 306.

Alternate Scenario: Upward penetration of 333 will call for 342.

NOTE: ENGRO is being capped by a descending trend line along with a horizontal resistant region.

Weekly Chart with Supports & Resistances: