PAEL Pak Electron short term analysis 5th Aug. 2020

Under Pressure

Our Pivot: 34.20

Our Preference: Short sell PAEL below 33 with strict stop loss of 34.20 and profit target at 29.85 with extension towards 28.80.

Alternate Scenario: Upward penetration of 34.20 will call for 36.00.

NOTE: PAEL is being capped by a strong resistant trend line.

Daily chart with Supports & Resistances: