NCL Nishat Chunian Limited Mid-Term Analysis 3rd April 2019

Rebound Insight

Our Pivot: 46.60

Our Preference: Start buying NCL from current price and average it out till 48.80 with strict stop loss of 46.60 and profit target at 55 with extension towards 57.80.

Alternate Scenario: Downward penetration of 46.60 will call for 44.10.

NOTE: NCL is getting support from a rising trend line along with a strong horizontal supportive region, while weekly momentum indicators are ready for a bullish pull back and these would try to lead prices towards 55 Rs/share.

Weekly Chart with Supports and Resistances: