PAEL Pak electron short term analysis 28th Oct. 2020

Downside Prevails

Our Pivot: 36.50

Our Preference: Start short selling PAEL below 35.00 and average it out till 35.60 with strict stop loss of 36.50 and profit target at 33.50 with extension towards 32.70.

Alternate Scenario: Upward penetration of 36.50 will call for 37.50 and 38.30.

NOTE: PAEL have given breakout of its rising wedge in downward direction.

Hourly chart with supports & resistances: