Published On: Tue, Apr 2nd, 2013

JSCL Jahangir Sadique & CO. Analysis 02 April 2013

JSCL Under Pressure

Our Pivot: 14.10

Our Preference: Short Positions around 1372 with strict stop loss of 14.10 and profit target at 12.96 and 12.68 with 11.58 insight

Alternative Scenario: Upward Penetration of 14.10 will call for 14.82 and 15.14

NOTE:  JSCL is moving in a downward price channel which is driving it towards 11.58  on mid term basis and is  capping it at 13.72  on weekly and daily basis. On weekly basis moving averages are pressing it downward as per Economy.Pk analysis closing below 14.10 have generated a huge pressure on JSCL and now in upcoming days its becoming very difficult for JSCL to recover from that pressure, along with all technical indicators Fundamentals are also not supporting JSCL’s Upward Move.

Recommendations:

For New Entries (Short with strict stop loss of 14.10 other wise wait if want to buy )

For Existing Buyers (Hold short selling or book your losses at 12.96 if you are in long of JSCL)

Daily Chart with Supports and Resistance:

JSCL

Weekly Chart with Supports and Resistances:

JSCLW

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  1. Aamir Rasheed says:

    good analysis thanks

  2. [...] NOTE: JSCL have taken a reversal from overbought region and have generated a bullish hammer in weekly chart along with a morning shooting star in daily chart but still have a strong resistance from its weekly downward channel at 13.53, so bulls have to be care full around those levels. All middle impact  Indicators like RSI, MAC and Stochastic are indicating for a short term reversal in JSCL. But closing above 13.53 and 14.10 matters a lot, so according to previous analysis by Economy.pk Intraday Traders can adopt swing trading strategy between these levels. for clear look of bearish sentiment of JSCL have a look on our previous analysis of JSCL at this link http://economy.pk/analysis/kse-analysis/jscl-jahangir-sadique-co-analysis-02-april-2013/ [...]