MLCF Maple Leaf Cement short term analysis 14th Jul. 2020

Turning Down

Our Pivot: 33.86

Our Preference: Start short selling MLCF below 31.15 and average it out till 32.60 with strict stop loss of 33.86 and profit target at 28.20 with extension towards 25.60.

Alternate Scenario: Upward penetration of 33.86 will call for 34.60 and 35.40.

NOTE: MLCF is being capped by resistant trend  line of its bullish trend channel.

Daily chart with supports & resistances: