PPL Pakistan Petroleum Ltd. Mid-Term Analysis 17th April 2020

Rebound Insight

Our Pivot: 65

Our Preference: Start buying PPL from current price and average it out till 78.00 with strict stop loss of 65 and profit target at 109 with extension towards 121 and 127.

Alternate Scenario: Downward penetration of 65 will call for 62 and 59.

NOTE: PPL have completed 50% correction of its bullish price rally and now it would try to start a bullish rally in coming days which would lead it towards 100 Rs initially and then towards 109.

Weekly Chart with Supports & Resistances: