Key Resistance at 58.47
Our Pivot: 58.47
Our Preference: Short sell below 55.48 and average it out till 57.13 with strict stop loss of 58.47 and profit target at 52.95 and 51.50.
Alternate Scenario: Upward penetration of 58.47 will call for 59.44.
NOTE: AICL is moving in a bearish trend channel and right now its getting resistances from resistant trend line of said channel along with a strong horizontal resistance. Weekly Stochastic is also ready for a pull back.
Recommendations:
Short sell below 55.48 and average it out till 57.13 with target at 52.95 and 51.50.
Weekly Chart with Supports and Resistances:
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