MLCF Maple Leaf Cement short term analysis 30th March 2021

Under Pressure

Our Pivot: 46.60

Our Preference: Short sell MLCF below 44.40 and average it out till 45.30 with strict stop loss of 46.60 and profit target at 42.30 with extension towards 41.50 and 40.30.

Alternate Scenario: Upward penetration of 46.60 will call for 47.60.

NOTE: MLCF have given bearish breakout of its ascending wedge on daily chart.

Chart with supports & resistances: