NICL Nimir Industrial Chemicals Analysis 28 March 2016

Upside Prevail

Our Pivot: 20.73

Our Preference: Buy above 23.62 and average it out till 21.99 with strict stop loss of 20.73 and target at 27.08 and 28.40.

Alternate Scenario: Downward penetration of 20.73 will call for 18.93.

NOTE: NICL moving in an upward price channel and right now its getting support from a supportive trend line along with a horizontal supportive region. Weekly Stochastic is also ready for a pull back.

Recommendations:

Buy above 23.62 and average it out till 21.99 with target at 27.08 and 28.40.

Chart with Supports and Resistances: