PKGP Pak Gen Power Mid-Term Analysis 21 March 2016

Rebound Insight

Our Pivot: 20.47

Our Preference: Start buying from current price and add averages till 22.69 with strict stop loss of 20.47 and profit target at 27.20 and 29.36 with extension towards 30.64.

Alternate Scenario: Downward penetration of 20.47 will call for 19.

NOTE: PKGP is moving in a downward price channel and it have completed its major bearish wave Elliot Wave, now its getting support from a horizontal supports along with supportive trend line of said channel and correction levels.

Recommendations:

Start buying from current price and average out till 222.69 with target at 27.20 and 29.36.

Weekly Chart with Supports and Resistances: