NCL Nishat Chunian LimitedAnlaysis 17 May 2013
PTC Bias Remains Bullish Our Pivot:47.06 Our Preference: Buy NCL between 47.49 to 48.10 with strict stop loss of 47.06 and profit target at 51.27 and 54.40
Alternative Scenario: Downward Penetration of 46.06 will call for 44.71 and 43.10
NOTE: NCL is moving in an upward channel on daily and weekly basis, after getting a resistance at 51.27 its coming back to retest its support line of trend channel at 46.06, so buying can be initiated in NCL with a strict stop loss of 46.06.
Recommendations:
For New Entries (Buy between 47.49 to 48.10)
Weekly Chart with Supports and Resistance:
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John Doe
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