NCL Nishat Chunian Limited Analysis 01 March 2016

Rebound Insight

Our Pivot: 28.25

Our Preference: Start buying NCL above 32.68 and average it out till 31.60 with strict stop loss of 28.25 and profit target at 37.75 with extension towards 39.

Alternate Scenario: Downward penetration of 28.25 will call for 26.

NOTE: NCL is getting support from a rising trend line along with its yearly 61.8% Correction and a horizontal supportive region. Weekly Stochastic have generated a crossover which indicates a start for a bullish run.

Recommendations: Buy above 32.68 and average it out till 31.60 with target at 37.75 and 39.

Weekly Chart with Supports and Resistances: