PIOC Pioneer Cement Limited short-term analysis 19th Oct. 2020

Rebound Insight

Our Pivot: 85.80

Our Preference: Start buying PIOC from current price and average it out till 88.70 with strict stop loss of 85.80 and profit target at 94.30 with extension towards 99.50.

Alternate Scenario: Downward penetration of 85.80 will call for 80.25.

NOTE: PIOC is bouncing back after retesting its daily triangle and getting support from its strong supportive region. Meanwhile daily stochastic and MAORSI have changed their direction towards bullish side.

Daily chart with supports & resistances: