Further Advance
Our Pivot: 48.80
Our Preference: Buy NBP as long as 51.00 is sustained as support with strict stop loss of 48.80 and profit target at 55.10 and extension towards 57.20.
Alternate Scenario: Downward penetration of 48.80 would call for 46.18 and 45.00.
NOTE: NBP is moving in an upward price channel and a breakout have occurred during last trading session when NBP have closed above 51 Rs. Daily Stochastic and MAORSI have turned to positive momentum and now it would try to target resistant trend line of its daily bullish channel.
Daily Chart with Supports and Resistances:
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