MLCF Maple Leaf Cement Intra-day Analysis 17th July 2018

Rebound Insight

Our Pivot: 38.50

Our Preference: Buy MCLF above 39.30 with strict stop loss of 38.50 and profit target at 40.66 and 41.80.

Alternate Scenario: Downward Penetration of 38.50 will call for 36.05 and 34.70.

NOTE: MLCF is moving in a downward wedge and right now its getting support from supportive trend line of said wedge and Stochastic and MAORSI is trying to generate a bullish crossover which would start a pull back.

Hourly Chart with Supports and Resistances: