NCL Nishat (Chunian) Limited Mid-Term Analysis 08 April 2016

Rebound Insight

Our Pivot: 29.40

Our Preference: Buy above 33.00 and average it out till 32.11 with strict stop loss of 29.40 and target at 37.42 with extension towards 40.49.

Alternate Scenario: Downward penetration of 29.40 will call for 27.91.

NOTE: NCL is getting support from a rising trend line of its bearish wedge along with its monthly 76.4% correction level and a strong horizontal supportive region.

Recommendations:

Buy above 33.00 with target at 37.42 and 40.49.

Chart with Supports and Resistances: