NCL Nishat Chunian Limited Analysis 01 March 2016
Rebound Insight
Rebound Insight
Our Pivot: 28.25
Our Preference: Start buying NCL above 32.68 and average it out till 31.60 with strict stop loss of 28.25 and profit target at 37.75 with extension towards 39.
Alternate Scenario: Downward penetration of 28.25 will call for 26.
NOTE: NCL is getting support from a rising trend line along with its yearly 61.8% Correction and a horizontal supportive region. Weekly Stochastic have generated a crossover which indicates a start for a bullish run.
Recommendations: Buy above 32.68 and average it out till 31.60 with target at 37.75 and 39.
Weekly Chart with Supports and Resistances:
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