Technical Analysis of Indian Equities by Nooresh

DISH TV – Cup and Handle / Consolidation.

DISH TV TECHNICAL CHART

DISH TV

DISH TV

-> Technically the stock has always faced a lot of resistance around 90 in the last 2 attempts.

-> Also falls have been sharp after topping out.

-> It would be a breakout above 90 on a long term chart. It can be called a Cup and handle or consolidation in a range for a long time.

-> This has been that idea stock which a lot of investors have been bullish about with the optimistic ones even comparing it to telecom of the 2000 period.

-> Given a superb run in a lot of midcaps/smallcaps this has been an underperformer.

-> With results around the corner and a lot of expectations it will be interesting to watch whether it can change the long term trend.

-> Keeping the stock on radar for a momentum trade or a long term trend change, No positions / recommendations as of now.

Last few seats left for our Delhi Investing Lab Session –http://www.nooreshtech.co.in/2015/04/the-investing-lab-bridging-theory-and-practicetraining-program-delhi-30-31st-may-2015.html

 

Nifty Thoughts

-> Nifty did a good bounce back as we expected. Nifty - Bottoming out is a Process

-> Got a good trade with multiple entries and now partial holdings can be left with a trailing stoploss of 8350-8380 on closing basis.

-> Think that the momentum is gone on either side and we should be ready to play ping-pong and find a range in Nifty.

-> Watching out for 8350-8330 and 8550-8600 as price points for a change in trend.

-> Time to be stock specific till we get another good trade opportunity in Nifty

DISCLOSURE

Nooresh Merani

Securities covered above:: DISH TV

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Article by Nooresh Merani

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{ 1 comment… add one }
  • Anandha June 1, 2015, 23:01

    sir,
    I have Dish TV investment of 1500 quantity at 76. Do you suggest to hold or Book out at 105 levels ? Do you see 142 in coming days ?

    Reply

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