FFBL Fauji Fertilizer Bin Qasim Mid-Term Analysis 29 August 2016

Rebound Insight

Our Pivot: 48.81

Our Preference: Buy FFBL above 52.13 and average it out till 50.66 with strict stop loss of 48.81 and profit target at 56.03 and 57.95.

Alternate Scenario: Downward penetration of 48.81 will call for 46.22.

NOTE: FFBL is moving downward after completing 61.8% weekly correction of its last bearish rally and right now its getting support from bullish correction levels and its 100 weeks moving average along with a strong supportive region around 52.13 Rs.  

Recommendations:

Buy above 52.13 and average it out till 50.66 with target at 56.03 and 57.95

Chart with Supports and Resistances: