shiv2798

DISHTV Price rejection in Weekly Charts

NSE:DISHTV   DISH TV INDIA LTD
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Dish TV its second week higher price rejection indication on Chart, Now Question is Will it reach 111.90 or will reverse from CMP ?
Monday you can look for reversal indication in case further price advance is failed
Cheers
Comment: 1st when I posted it that time the weekly chart was witnessing the two congestive higher price rejection , but on third week also it gave very clear rejection , why the price was holding that level after higher price rejection ?? can any one guess ?? I don't think until you read next para
the stock was in over brought condition , in 1st week when higher price rejected , investors who is holding high volume , now understood that he is not getting customers for buying his stock with higher price so he decided to buy all the stocks which ware being hold by other small and medium investors , because the institutional investor investment is very high comparing to other so in 2nd week again he tried to push the price high and found the hidden sellers who ware still holding the stocks ( which is bad news to large investors ) because of hidden stock holders , the institutional went on buying the stock but maintained the price support level , as long as they exhaust their stock , eventually on 3rd week institutional found the hidden sellers out , that means all the stocks holders are out form market , then they pushed the price , immediately when price started moving up after holding the same support level for 3 weeks , small and medium investors started pilling up the stock again , and then large sell off took place , institutional played their trick of taking price high by few points , everyone started jumping on it , and finally sell off took , this week some buying was done again only to put small trader in pain ,
here my point is very clear when the candlestick represents the psychology of human behavior of action and reaction in the form of price , then one must try to read carefully and understand the concept of buying in low and selling on high
Regards
Trade closed manually: From 105 to 78 Closed my Dish TV F & O , I am sad its not going down
off course i made Money but still not happy
I booked profit 27 Points on 7000 Qty Lot, its 1,89,000/- but i am not happy it should have gone down a little bit of another 25 Points , actually i was expecting it will brake 67 and then i will book , but some how i booked
Regards

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