SNGP Sui Northern Gas Pipelines short term analysis 18th Feb. 2021

Rebound Insight

Our Pivot: 33.30

Our Preference: Start buying SNGP above 39.00 and average it out till 36.80 with strict stop loss of 33.30 and profit target at 50.50 with extension towards 52.80.

Alternate Scenario: Downward penetration of 33.30 will call for 28.60.

NOTE: SNGP is caged in a descending wedge on daily chart and its ready for a bullish breakout of this wedge.

Chart with supports & resistances: