MUGHAL Mughal Iron & Steel Limited short term analysis 29th Dec. 2020

Rebound Insight

Our Pivot: 64.75

Our Preference: Start buying from current price and average it out till 67.50 with strict stop loss of 64.75 and profit target at 79.40 with extension towards 85.00.

Alternate Scenario: Downward penetration of 64.75 will call for 60.50.

NOTE: MUGHAL is moving in a bullish price channel and right now its getting support from a strong horizontal supportive region.

Chart with supports & resistances: