NeeteshJain
Long

TV18 Broadcast - Up-Trending Channel

BSE:TV18BRDCST   TV18 BROADCAST LTD
It is been observed that the price action is trending up in a channel on a weekly chart. On Monday, the price action breaks out and close above the important resistance level of 49 on dally chart, indicating a bullish signal and buyers dominance in price action. Now the price action shall move up as it is trending on weekly chart.

Target: 53
Stoploss: 47.50
Risk Reward: 1:3

Comments

Neetesh.... what do you think about this??


I am holding long position (5000 shares) at price of 47.50.....
I can see in chart that there is no resistance long-way so can i expect bing move in TV18??
+1 Reply
NeeteshJain pravinpatil26
@pravinpatil26 Yes, you can expect a big move from here on as the price action has already broken out from resistance level of 49 and now you may expect 53 levels by next week.
I must tell you that you're doing very well and posting some very informative and clear-view charts. Just keep it up, Best Regards.
Reply
pravinpatil26 NeeteshJain
thanks neetesh
Reply
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