The earning are not justifying the price as well as with increase in interest rates and dominance of the OTT platforms surely affecting the future projections. Technically breaking the upward channel, the same is also supported by the RSI and volume.
Previous month has given a bearish signal. If the same momentum continues the price can go down as shown on the chart.
Keep eye on the opportunities and trade wisely.
Joining a falling knife !!
PVR stock has been continuously falling from recent high's . I too wanted to join the party . But , for that I needed a party pass which I got and then had lot's of fun !!!
Party time !!
PVR was holding 950 levels from one month, which it broke in today's session with good volume and the stock closed near its low.
The next support i see in the stock is around 780 levels.
RSI is well aligned with the price.
NSE:PVR PVR being from an losing sector there are possibilities of even more downfall, while PVR has achieved tgt1 of Fibonacci retracement for the bearish bat it formed a couple of months back. if fall continues we may even see levels of 740 which major a major resistance in 2015.
