Hi Friends,
I am not much of a fan of Rising or Falling Wedge. However, TV18 Broadcast is looking good backed up by CNXMEDIA Index breakout.
LONG
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BUY above 30
STOLOSS = 27
Target = 40-41
I hope you will benefit from this knowledge
PS: Twitter handler = MetaVish.
Analysis TLDR -
Expecting bullish divergence in play to continue.
Long term green support range holds.
Wave analysis shows first wave of a megatrend to be complete at ATH. A retrace of this wave is expected between 50-61.8% ideally. We're at 50% now.
Algorithms also expected to buy the .5 fib, target -0.236 (new ATHs). Algo involvement evident in...
In this special category today I come up with the recommendation of TV18Broadcast. Price at 100 DMA: just like last time it took support and moved up. This time also the same may be expected. Keep a small SL close to 100 DMA. Target is the previous high wherefrom correction happened due to negative divergence.
5 up done, a-b-c correction done, now i-v are also done it seems. A Double Top pattern is visible. So both bulls and bears are cautious. Let us see who wins.
