ENGRO Engro Corportation Limited Analysis 24 April 2013

ENGRO Caution Ahead Our Pivot: 138.60 Our Preference: Swing in both sides. (Short positions below 138.60 with strict stop loss of 139.85 and profit target at 129.80 other wise buy around 131.29 with a strict stop loss of 129.80 and taget at 138.60. Alternative Scenario: Upward penetration of 139.85 will call for 145.48 NOTE: Engro have been caught in a tight triangle on weely basis and have given some strong signals to drop. This weekly closing 130 will call for a serious bearish trend in Engro and can push engro towards 114 and 110 area. Recommendations: For New Entries ( keep an eye on 129.80 and 138.60 breakage of either side will give a strong push to market) Weekly Chart with Supports and Resistance ENGRO

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