Engro Short Term Analysis 15 April 2013
ENNGRO Short Bullish above 134.96
Our Preference: Our Preference long positions around 137.51 with strict stop loss of 134.96 and profit target at 142.62 and 146
Alternative Scenario: Downward Penetration of 134.96 will call for 132.59
NOTE: Engro can get a short term support at 134.96 so swing trading strategy can be adopted by buying around 137.51 with strict stop loss. A Trend line will give short term support to engro at that level.
But befor buying for long and medium terms dont forget to check our previous analysis of Engro corporation on this link http://economy.pk/analysis/kse-analysis/engro-engro-corporation-analysis-11-april-2012/
Recommendations:
For New Entries (buy around137.51 )
(*Experts can start buying around 139 or 138.50 area)
Daily Chart with Supports and Resistances:
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John Doe
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