Details:
Asset: Network18 Media & Investments Ltd.
Breakout Level: 55
Potential Targets: 62, 68, 72
Stop Loss: 50
Timeframe: Short to Medium Term
Rationale:
Network18 is trading near the upper boundary of a descending channel pattern and is showing signs of breaking out above ₹55. Volume buildup and consolidation near resistance indicate strong buying interest.
Market Analysis:
Technical Setup: Channel breakout in progress, supported by increasing volume.
Catalysts: Positive sector momentum and recovery in media & entertainment space.
Risk Management:
Stop Loss: ₹50 to limit downside in case of false breakout.
Capital Allocation: Prefer small-to-medium position due to relatively volatile price action.
Risk-Reward Ratio:
Favourable with an upside potential of ~30% from breakout level.
If sustained above 55, Network18 may witness a strong uptrend towards the ₹72 zone.
Asset: Network18 Media & Investments Ltd.
Breakout Level: 55
Potential Targets: 62, 68, 72
Stop Loss: 50
Timeframe: Short to Medium Term
Rationale:
Network18 is trading near the upper boundary of a descending channel pattern and is showing signs of breaking out above ₹55. Volume buildup and consolidation near resistance indicate strong buying interest.
Market Analysis:
Technical Setup: Channel breakout in progress, supported by increasing volume.
Catalysts: Positive sector momentum and recovery in media & entertainment space.
Risk Management:
Stop Loss: ₹50 to limit downside in case of false breakout.
Capital Allocation: Prefer small-to-medium position due to relatively volatile price action.
Risk-Reward Ratio:
Favourable with an upside potential of ~30% from breakout level.
If sustained above 55, Network18 may witness a strong uptrend towards the ₹72 zone.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.