PPL Pakistan Petroleum Limited short term analysis 30th Dec. 2020

Under Pressure

Our Pivot: 92.00

Our Preference: Start short selling PPL below 89.93 and average it out till 90.40 with strict stop loss of 92.00 and profit target at 87.95 with extension towards 86.20.

Alternate Scenario: Upward penetration of 92.00 will call for 93.80 and 95.10.

NOTE: PPL have given bearish breakout of it's ascending wedge on hourly chart.

Chart with supports & resistances: