D.G. Khan Cement Holds at 200 as Trader Flags 198 as the Line

By Daniel Okafor

D.G. Khan Cement (PSX: DGKC) trades at 200.41, and one technical analyst puts the stock's survival line at exactly 198. The call comes from TradingView analyst kashif493 in a chart note dated 09-11-2026. Break that floor, the analyst says, and holders should exit.

The number matters because of where it sits. The stock spent its recent history in a full boom-and-bust cycle. On this reading, that cycle topped out near 256. It did so with what Elliott Wave practitioners call a fifth-wave failure — a rally that runs out of steam before it exceeds its previous peak. Failed fifths often signal exhaustion. Sellers, not buyers, own the trend from there.

What has the stock done since 256?

The correction unfolded in three textbook stages, according to the analysis. The first leg down, wave A, took the form of an "elongated flat" and bottomed around 145. Flats are sideways, grinding structures. They shake out impatient holders before the trend resumes.

A second leg, wave B, then climbed back as a zig-zag — a sharp, three-move rebound that carried the price to 237. From that 237 mark, the stock turned down again. That turn, in the analyst's framework, opened wave C: the final and often steepest phase of an ABC correction.

Wave C is where the current price action lives. The analyst argues DGKC is subdividing this wave, with a "Leading Diagonal" forming in sub-wave 1. Leading Diagonals are wedges that appear at the start of a move. They usually precede a sharp bounce. That bounce is what the market is navigating now.

What are the two scenarios?

The analyst lays out two paths, and both hinge on whether the bounce has finished:

• Scenario 1: The bounce is done. The stock falls sharply into sub-wave 3, breaks its recent low, and may settle around 141 — roughly 30 percent below the current price of 200.41.
• Scenario 2: The bounce continues. The price first reaches 213, or at maximum 223, before the larger decline resumes.

Note the asymmetry. Even the bullish path tops out at 223, below the 237 wave-B high and far below the 256 cycle peak. On this map, every road eventually points lower. The question is timing and the size of the last bounce, not the direction of the next major move.

Why 198 is the trade level?

The stop-loss sits at 198 for a mechanical reason. That level marks the base of the structure the entire bullish bounce thesis depends on. Hold above it, and scenario two stays alive with targets of 213 and 223. Lose it, and the sub-wave count breaks. The analyst's instruction is blunt: "Keep strict SL=198. Exit is recommended if 198 is broken."

The analyst gives three reasons for the bearish structure:

1. The overall cycle completed with a fifth-wave failure at the top
2. Elliott Wave rules governing ABC corrections
3. Elliott Wave rules specific to C-waves

The author closes with a standing disclaimer: "Do Your Own Research" and "No Claim, No Blame."

What should investors watch now?

Three numbers organize the weeks ahead: 198 as the stop, 213–223 as the bounce ceiling, and 141 as the bear-case floor. A close below 198 would confirm the sharp sub-wave-3 decline. A push through 223 would invalidate the count and force a rethink. Until either happens, DGKC trades in the narrow band where both scenarios remain technically alive.