NBP trade ideas
NBPNBP - Buy Call
Stock Summary : In the latest trading session, NBP closed at PkR60.02. The daily chart shows that the stock holds above both minor and major moving averages, supported by an upward trend. Parabolic SAR is positioned below the current stock price, indicating a positive stance. The RSI is at 63.61 suggesting strength as it remains above the neutral level.
Recommendation : Initiate buying positions on weakness or near the support zone and set stop losses below PkR57.51 to manage risk effectively. Initial target is at 61.27 and secondary target is at 62.53.
NBP | Bullish StanceNBP is in a strong uptrend, making higher highs and higher lows. It recently broke resistance at Rs. 55 and is trading at Rs. 61.73. The previous resistance at Rs. 55 is expected to act as support. This level could be a good entry point for a long position in a swing trade. The next major resistance is around Rs. 72. If the stock breaks and sustains above this level, it could be a target for further gains. Set a stop loss at the previous swing low of Rs. 45 to manage downside risk.
NBPFollowing a test of the support level at 27, the price experienced a pullback and is presently positioned at the breakout point of the initial resistance level at 29. A successful breakout is poised to challenge the subsequent resistance levels of 31 and subsequently 33. Conversely, a breach of the support level at 27 is anticipated to generate bearish momentum. Vigilance is advised regarding these developments.
NBP - FALLING WEDGE POST BO CONITUATION🔰 TICKER : NBP | TRADING CALL (ALPHA STOCK)
🔰 Stance : Buy (BULLISH)
(18-MARCH-2024)
⚡ New buying range: 31.20 - 31.70
🔺 INITIAL STOPLOSS : 26.60
📶 STOP BUY : SHOULD BE PLACED ABOVE 32.10
⚡ TG - 1 : 31.50 - 31.80 - ACHIEVED
⚡ TG - 2 : 32.40 - 33.00 - ACHIEVED
⚡ TG - 3 : 33.50 - 34.20 - ACHIEVED
⚡ TG - 4 : 35.40 - 36.30 - ACHIEVED
⚡ TG - 5 : 37.20 - 38.50
👉 Take Partial Profits on Recommended Targets🙏
▪ INTRA-DAY & SWING TRADES, POSITIONAL TRADE
🎯 SHORT TERM TARGETS: 35 - 38.50 - 44.00
