ENGRO Engro Corporation Ltd. short term analysis 16th Oct. 2020

• 2020-10-16 08:39:36
• 28 Comments
• 55 Views
• psx-analysis
• Maier Noor

Under Pressure

Our Pivot: 303.50

Our Preference: Start short selling ENGRO below 298.50 and average it out till 301.30 with strict stop loss of 303.50 and profit target at 295 with extension towards 292.

Alternate Scenario: Upward penetration of 303.50 will call for 306.20 and 307.60.

NOTE: ENGRO is being capped by a strong horizontal resistant region along with a descending trend line.

Hourly chart with supports & resistances:

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