PIOC Pioneer Cement Limited short-term analysis 5th Jan. 2021

Under Pressure

Our Pivot: 105.10

Our Preference: Short sell below 100.60 and average it out till 102.50 with strict stop loss of 105.10 and profit target at 91.90 with extension towards 86.75.

Alternate Scenario: Upward penetration of 105.10 will call for 108.75 and 110.30.

NOTE: PIOC have penetrated back inside its previous bearish price channel.

Chart with supports & resistances: