MTF Stock Pick Buy TV18 Broadcast Limited For Target Rs. 43.50 - HDFC Securities
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MTF Stock Pick Buy TV18 Broadcast Limited For Target Rs. 43.50- HDFC Securities
TECHNICAL OBSERVATIONS
* Stock price has already broken out on the daily and weekly chart by trading above 37.5 levels
* Short term trend of the Stock is positive where it is trading above its 5,20 and 50-day EMA
* Stock price has been taking support at 50 day EMA since last many months
* Oscillators like RSI and MFI is showing strength in the current uptrend of the stock
* Plus, DI is trading above -DI while ADX line is placed above 25 Indicating momentum in the current uptrend
* Considering the Technical evidences discussed above, we recommend buying TV18 Broadcast at CMP of 37.95 and average at 35.5, for the upside targets of 43 and 50, keeping a stop-loss at 34
Buy The New India Assurance Co. Ltd Up to 3 Months @ 37.95-38 CMP 37.95 TGT 43,50 SL 34
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