ENGROH Set to Soar

Engro Holdings Limited :Engroh (formerly Dawood Hercules Corporation Limited) took a significant correction on the monthly time frame.

Engro must sustain above the 183 area for the next rally. Currently, it is trying to form a consolidation.

For investors and swing traders, these are good levels to accumulate the stock within the range of 180-168, especially considering its history of paying dividends.

For a short-term trade plan, the profit-taking range is between 190 and 200.

For a swing trading approach, the target range is 240-250, with an ultimate target of 315

For buying, consider using a ladder-up strategy: 50% initially, followed by 35%, and then 15%

If it closes below the 144 level on the daily time frame, the trend would change and that would be your stop loss..