TRG TRG Pakistan short term analysis 5th Aug. 2020

Under Pressure

Our Pivot: 51.86

Our Preference: Start short selling TRG below 49 and average it out till 50.10 with strict stop loss of 51.86 and profit target at 45.00.

Alternate Scenario: Upward penetration of 51.86 will call for 53.50 and 54.60.

NOTE: TRG is being capped by strong resistant regions and a daily bearish engulfing pattern have been formatted.

Hourly chart with supports & resistances: