This is a reversal trade, although the stock is in a downtrend in Monthly time frame, it is in strong accumulation for the last 3 years.
Monthly time frame shows price contraction, lows are moving higher and is ready to move to the major resistance zone of 24.45.
For swing one can look for entry at 20rs zone - demand and look for a target of 24.45.
For short...
Dishtv on a verge of breakout on a monthly timeframe at a good stage offering a good risk reward ratio
Only for risky traders and not for a investor
Risky traders can buy for 2x
For a cautious and a low risk low risk investor here is the detail thread
Buy range 20 to 25
Sl at 15
Tgt 35 50 80
Buy qty for low risk investor
Buy qty 400 shares
Investment amount...
In this stock we see that the RSI is moving upward and also there is central line crossover in MACD. Month by month we see increase in volume, stock recently closed above 23.35 which is strong resistance. Closes with good volume, so for long term view this stock may reach around 40. This is a best stock to have in a portfolio.
the scrip is still in formation of VCP and such a long consolidation may give huge upside once it breaks out. a close above 24 is required on weekly basis.
The TV has been making good volumes here
RSI breakout might happen next
Overall looks like it will go all time high. Lets see if it breaks the resistance.
Keep a tight SL on lover levels
In this age of internet and mobile entertainment, is there a scope of survival for a satellite television provider?
Well the above chart attempts to make a projection of the path the Dish TV stock can take in coming years based on the rules and guidelines of the Elliot wave theory.
To highlight the most important thing about it, the stock had a clean impulsive...
The long VCP seems to be reaching its destination, a weekly closure above 24 with good volumes will confirm the same, if this played out well, we will be able to see the beauty of VCP, can easily become a doubler from here.
Good volume seen in chart.
Can blast above the zone.
Disclaimer : This is not a Buy or Sell recommendation. Please consult your financial advisor before making any investments . This is for Educational purpose only
Stock name = Dish Tv India Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI...
DISH TV INDIA LTD
Key highlights: 💡⚡
📊On 1Day Time Frame Stock Showing Reversal of Broadening Wedge Pattern.
📊 It can give movement upto the Reversal target of Above 23+.
📊There have chances of Breakout of Resistance level too.
📊 After Breakout of Resistance level this stock can gives strong upside rally upto above 30+.
📊 Can Go Long in this stock by placing stop...
DISHTV long set up
If the prices cross 21.50 levels that would be the entry point with stop loss @ 16.30. With target 39, we can achieve over 3 risk reward ratio.
RSI has been hoovering above 60.
It looks like it has been making ascending triangle.
