BOP Bank of Punjab Analysis 30 August 2013 (Revised)

August 30, 2013 9:34 amComments Off on BOP Bank of Punjab Analysis 30 August 2013 (Revised)Views: 1231

BOP UP side Prevails

Our Pivot: 9.15

Our Preference: Buy BOP as long as 10.16 is sustained as support above 10.25  and 10.93 with strict stop loss of 9.15 and profit target at 14.62

Alternative Scenario: Downward Penetration of 9.15 will call for 8.15

NOTE: BOP is getting support from its 100 days moving average to move back towards 14.92 for retesting resistant trend line of its wedge so its recommended to buy it for short term bases, closing above 14.92 will call for a new bullish era in BOP.

Recommendations:

For New Entries (Buy above 12.00)

For Existing Buyers (Hold and Make Average)

Weekly Chart with Supports and Resistance:

BOPW30082013BOPW30082013

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