NCL Nishat Chunian Limited Short Term Analysis 11 Dec. 2017

Rebound Insight

Our Pivot: 39.80

Our Preference: Buy NCL as long as its trading above 43 with strict stop loss of 39.80 and profit target at 52.00 and 54.50.

Alternate Scenario: Downward penetration of 39.80 would call for 33.00.

NOTE: NCL have generated a hammer on weekly chart after getting support from a horizontal supportive region and weekly stochastic have generated a bullish crossover which would push it in upward direction for a correction of current bearish rally.

Weekly chart with supports and resistances: