ENGRO Engro Corporation Limited Analysis 11 April 2013

ENNGRO Caution Our Preference: Short Term Investors can take a chance to short sell Engro with a strict stop of 146.02 to 147.82 area with targets at 128.72 and 119.13 with extension towards 115 . (Buying not recommended right now) Alternative Scenario: Upward Penetration of 147.82 will call for a new era of bullish sentiment in Engro towards 165 and 172. NOTE: ENGOR have been capped by a strong resistant trend line at 146.02 and have a 100 months moving average as resistance at 147.82, also have reached in over bought region in monthly chart. so a caution is generated around these levels.  Recommendations: For New Entries (stick to 146.02 to 147.82 area) For Existing Buyers (time to get out of this scritp) Monthly Chart with Supports and Resistance ENGROMApril

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