FABL Faysal Bank Limited Analysis 07 June 2016

Rebound Insight

Our Pivot: 12.21

Our Preference:  Buy FABL above 13.37 and average it out till 13.00 with strict stop loss of 12.21 and profit target at 15.12 and 15.75.

Alternate Scenario: Downward penetration of 12.21 will call for 11.74.

NOTE: FABL is moving in a bearish trend channel but right now its getting support from a rising trend line along with a horizontal supportive region.

Recommendations:

Buy above 13.37 and average it out till 13.00 with target at 15.12 and 15.75.

Weekly Chart with Supports and Resistance: