MLCF Maple Leaf Cement short term analysis 26th Jun. 2020

Rebound Insight

Our Pivot: 24.20

Our Preference: Start buying MLCF above 25.20 and average it out till 24.50 with strict stop loss of 24.20 and profit target at 26.10 with extension towards 26.60 & 27.30.

Alternate Scenario: Downward penetration of 24.20 will call for 23.50 and 23.00.

NOTE: MLCF have found support at supportive trend line of descending wedge on daily chart.

Daily chart with Supports & Resistances: