MCB MCB Bank Short Term Analysis 19th March 2019

Turning Down

Our Pivot: 200.50

Our Preference: Start short selling MCB below 198.90 with strict stop loss of 200.50 and profit target at 193.

Alternate Scenario: Upward penetration of 200.50 will call for 203.

NOTE: MCB is being capped by two strong resistance at 198 from a resistant trend line and at 200 Rs  by horizontal resistance respectively.

Daily Chart with Supports & Resistances: