LOTCHEM Lotte Chemical short-term analysis 17th Nov. 2020

Rebound Insight

Our Pivot: 10.70

Our Preference: Start buying LOTCHEM above 11.30 and average it out till 11.00 with strict stop loss of 10.70 and profit target at 12.81 with extension towards 13.20.

Alternate Scenario: Downward penetration of 10.70 will call for 10.30 and 9.90.

NOTE: LOTCHEM is being supported by a rising trend line along with a strong horizontal supportive region.

Daily chart with supports & resistances: