NCL Nishat Chunian Limited Analysis 20 July 2016

Turning Down

Our Pivot: 43.00

Our Preference:  Short sell below 40.00 with strict stop loss of 43 and profit target at 37 and 35.74.

Alternate Scenario:  Upward penetration of 43 will call for 44.39.

NOTE: Capped by a horizontal resistant region along with a resistant trend line.

Recommendations:

Short sell below 40 with target at 35.74.

Weekly Chart with Supports and Resistances: