NML Nishat Mills Limited Short Term Analysis 22 Dec. 2017

Rebound Insight

Our Pivot: 128

Our Preference: Start buying from current price and average it out till 135  with strict stop loss of 128 and profit target at 148 and 153.

Alternate Scenario: Downward penetration of 128 would call for 123.30.

NOTE: NML have completed its 61.8% correction on weekly chart and its also getting support from a horizontal supportive region. Daily stochastic have generated a bullish crossover which would push it for expansion of said correction..

Daily chart with supports and resistances: