We advocate creating fresh shorts in the given range of Rs 71.50-72.50, says Vinay Rajani of HDFC Securities.
Moneycontrol News
Vinay Rajani
Dish TV has been under pressure for more than a year as it witnessed a gradual decline. After its multiple failed attempts to cross its resistance barrier of long-term average i.e. 200-EMA on the daily chart, it has formed a fresh shorting pivot.
Indications are in the favour of a breakdown in near future. We advocate creating fresh shorts in the given range of Rs 71.50-72.50 for target of Rs 68. It closed at Rs 72.10 on July 2, 2018.
Disclaimer: The author is Technical Analyst, PCG Desk, HDFC Securities. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.First Published on Jul 3, 2018 08:43 am