PPL Pakistan Petroleum Limited Intraday analysis 15th Feb. 2021

Rebound Insight

Our Pivot: 88.00

Our Preference: Start buying PPL from current price and average it out till 89.70 with strict stop loss of 88.00 and profit target at 92 with extension towards 93.80.

Alternate Scenario: Downward penetration of 88.00 will call for 85.60.

NOTE: PPL is moving inside a descending wedge on hourly chart and its getting support from supportive trend line of said wedge along with a strong horizontal supportive region.

Chart with supports & resistances: