Published on 7/12/2017 2:23:07 PM | Source: Reliance Securities Ltd
Buy Dish TV India Ltd For Target Rs.89-92.00 - Reliance Sec
* The stock reversed after taking support of its daily moving averages and rose to 5-day closing high with relatively higher volume.
* Bullish cross-over in Stochastic and RSI will not only help the stock to surpass its long-term moving average 200-day, but also support it to fill May month’s negative gap.
* As per the current daily set-up, our view is positive on the stock, but some decline cannot be ruled out before it resumes the up-trend as negative cross-over in MACD is indicating the same.
* Hence, fresh long position can be initiated only in the range of Rs80-78 for the target of Rs89-92 and with a stop loss of Rs74.
* In case of major decline, prior base formation (placed around Rs74) will work as key reversal point.
DISHTV (PREVIOUS CLOSE: 82) BUY Fresh long position can be initiated in the range of Rs80-78 for the target of Rs89-92 with a strict stop loss of Rs74.
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