OGDC Oil & Gas Dev. Corp. Ltd. Intraday Analysis 30th Dec. 2020

Under Pressure

Our Pivot: 106.50

Our Preference: Start short selling from current price and average it out till 104.70 with strict stop loss of 106.50 and profit target at 101.90 with extension towards 99.95.

Alternate Scenario: Upward penetration of 106.50 will call for 109.

NOTE: OGDC is moving downward for expansion of its 50% bearish correction.

Chart with supports & resistances: