AbhishekHSinghCMT
Long

Dish TV - Looking higher for 110-112 Zone

NSE:DISHTV   DISH TV INDIA LTD
363 5 14
The move from 65 lows in Feb2016 has been complete choppy & a hard move upside. Such moves are very tough to count as they can give nightmares but gave an attempt.
It looks a corrective (W)- (X)- (Y) sequence & currently running in (Y) wave nested structure. In (Y) wave it is an impulsive structure.

From 85.30 lows it had sharp upside move till 109.80 - post that it is choppy & likely retraces 38.2% of 85.30-109.80 distance in the zone 100-101.50. If holds & we get price confirmation for upside then it can be expected atleast 110-112 zone as target zone next.

Trading Strategy

Current Day Low@101.35


We will keep a close watch on the structure if we get to see price holding in the zone 100-101.50 & gives a push upside to confirm that desired move has started shall be an opportunity to take long positions with the respective day low as stops.
Trade active: 21:47 Hrs 5th April2017

Last Price@103.40

Looks like sideways move & attempt for 105 levels can be made & retest of prior lows in the zone 100-101 we shall come back to see whether it holds then we expect upside push.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
it seems Jio effect on Dish TV.
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@AMBRISH, These news are little tough to convert in prices as we never get news on time -simple example was Idea -Vodafone caught up traders on good news.So, I depend on news little less as price movements are going to happen first.
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AMBRISH AbhishekHSinghCMT
@AbhishekHSinghCMT, Yes Sir, I agree with you, I saw set top box of Jio on economic times : Reliance Jio's Set Top Box images leaked; telco may launch DTH services soon
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@AMBRISH, Thanks
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AMBRISH AbhishekHSinghCMT
@AbhishekHSinghCMT, Welcome, i forgot in morning, i would have gone short , i will wait for bounce and your update. (Ref: ET TELCOM )

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