WAVES Singer Pakistan limited short term analysis 29th Dec. 2020

Further Advance

Our Pivot: 24.00

Our Preference: Start buying from current price and average it out till 26.45 with strict stop loss of 24.00 and profit target at 29.40 with extension towards 31.15.

Alternate Scenario: Downward penetration of 24.00 will call for 23.25 and 22.65.

NOTE: Waves have given bullish breakout of its descending wedge after completing 61.8% correction of its last bullish rally and now after completion of its 50% correction its heading towards expansion of its wedge again.

Daily chart with supports & resistances: