NML Nishat Mills Limited Short Term Analysis 01 Nov. 2017

Rebound Insight

Our Pivot: 123.50

Our Preference: Start buying from current price with strict stop loss of 123.50 and profit target at 144.00 and 149.50.

Alternate Scenario: Downward penetration of 123.50 would call for 116.63.

NOTE: Getting support from supportive trend line of its bearish trend channel along with a horizontal supportive region. Five primary waves of a bearish Elliot Wave have been completed right now its read for a pull back for correction of its bearish Elliot.

Weekly chart with supports and resistances: