MLCF Maple Leaf Cement short term analysis 27th Oct. 2020

Further Advance

Our Pivot: 40.50

Our Preference: Start buying MLCF from current price and average it out till 42.30 with strict stop loss of 40.50 and profit target at 46.60 with extension towards 49.30.

Alternate Scenario: Downward penetration of 40.50 will call for 39.60 and 38.50.

NOTE: MLCF is moving in a bullish price channel and its in expansion mode of its previous triangle.

Daily chart with supports & resistances: