PAKRI Pak Reinsurance Mid-Term Analysis 10 March 2016

Rebound Insight

Our Pivot: 27

Our Preference: Buy PAKRI above 29.84 and add averages till 28.80 with strict stop loss of 27 and profit target at 33.64 and 34.70 with extension towards 36.50.

Alternate Scenario: Downward penetration of 27 will call for 24.90.

NOTE: PAKRI is getting support from a rising trend line along with supportive trend line of its mid-term bearish trend channel. Weekly Stochastic and MAORSI are also in reversal mode.

Recommendations:

Buy above 29.84 and average it out till 28.80 with target at 33.64 and 34.70.

Weekly Chart with Supports and Resistances: