NSE: NETWORK18 is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on...
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
reversal possible only from 57 levels. bounce would come from there . either it will retrace 50 60 % percent of the fall or start big rally for new high . will review once again .
Very strong stock
This stock is out parforme banchmark index and sectorel index.
All technical indicators are positive.
Buy 92 to 94 price range and hoald month and short term.
This stock is also good for long term.
Price is taking support on Rising 44 SMA which works as strong support and forming hammer. Also Rising 44 SMA shows bullishness in stock. We can make bullish trade Buy above the high of 92 Stoploss below the low of 85 and target near previous high of 111
