ENGRO Engro Corporation Ltd. short term analysis 16th Oct. 2020
Downside Prevails
Under Pressure
Our Pivot: 303.50
Our Preference: Start short selling ENGRO below 298.50 and average it out till 301.30 with strict stop loss of 303.50 and profit target at 295 with extension towards 292.
Alternate Scenario: Upward penetration of 303.50 will call for 306.20 and 307.60.
NOTE: ENGRO is being capped by a strong horizontal resistant region along with a descending trend line.
Hourly chart with supports & resistances:
Leave A Comment
Required fields are marked *. Your email will not be published or shared.