Sector: Media and Entertainment/ Industry: TV Broadcasting & Software Production
Market Cap: 8,255.50/- Cr. / Category: Small Cap
Current Price: 48/- Target Price: 131, 156, 215/- Stop loss: 27
Ticker: NSE: TV18 Recommendation: BUY (Buy on dips around 38 – 36.3 levels)
Date: 03/12/2023
Highlights
We issue a Buy recommendation on TV18 Broadcast ltd. Based on a 1-year target price of
131, 156/-, offering a 257% upside potential from its closing price of 48/- on 01/12/2023.
Our recommendation is primarily driven by Elliott wave theory:
Elliott Wave Theory Outlook –TV18 Broadcast ltd, Buy around 38 – 36.5
December 03, 2023 By Dinesh Naidu
Hello traders. In this technical research report we’re going to take a quick look at
the Elliott wave chart of TV18 ltd. As our members know, the stock is showing impulsive
bullish sequences that are calling for further strength. Our team recommended members
to avoid selling, while keep favoring the long side. Recently we are in an Impulsive
structure in a higher time frame. In the further text we are going to explain the Elliott
Wave Forecast and trading strategy.
The stock is giving us wave ((2)) pull back that is unfolding as a Zigzag pattern in a daily
time frame. The price might reach extreme zone at 134-215, We don’t recommend selling
the stock and prefer the long side from the 50 & 61.8% Fib levels. As the intermediate
trend might turn bearish in a smaller time frame, we expect to see at least 3 waves
bounce from our buying zone. Once price bounce reaches 161.8% Fib against the (wave 3)
high, we will make long position risk free (put SL at Breakeven) and take partial profits.
Invalidation for the long trades is at 27level.
Disclaimer: I am not a SEBI Registered Research Analyst. The information provided here
is for education purpose only. I will not be responsible for any of your Profit/Loss with this
recommendation. Consult your financial advisor before taking any decisions.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve
substantial risk and may not be suitable for all investors. Leverage can work against you as
well as for you. You should therefore carefully consider your investment experience as
well as financial condition before deciding if trading is suitable for you or not.
Market Cap: 8,255.50/- Cr. / Category: Small Cap
Current Price: 48/- Target Price: 131, 156, 215/- Stop loss: 27
Ticker: NSE: TV18 Recommendation: BUY (Buy on dips around 38 – 36.3 levels)
Date: 03/12/2023
Highlights
We issue a Buy recommendation on TV18 Broadcast ltd. Based on a 1-year target price of
131, 156/-, offering a 257% upside potential from its closing price of 48/- on 01/12/2023.
Our recommendation is primarily driven by Elliott wave theory:
Elliott Wave Theory Outlook –TV18 Broadcast ltd, Buy around 38 – 36.5
December 03, 2023 By Dinesh Naidu
Hello traders. In this technical research report we’re going to take a quick look at
the Elliott wave chart of TV18 ltd. As our members know, the stock is showing impulsive
bullish sequences that are calling for further strength. Our team recommended members
to avoid selling, while keep favoring the long side. Recently we are in an Impulsive
structure in a higher time frame. In the further text we are going to explain the Elliott
Wave Forecast and trading strategy.
The stock is giving us wave ((2)) pull back that is unfolding as a Zigzag pattern in a daily
time frame. The price might reach extreme zone at 134-215, We don’t recommend selling
the stock and prefer the long side from the 50 & 61.8% Fib levels. As the intermediate
trend might turn bearish in a smaller time frame, we expect to see at least 3 waves
bounce from our buying zone. Once price bounce reaches 161.8% Fib against the (wave 3)
high, we will make long position risk free (put SL at Breakeven) and take partial profits.
Invalidation for the long trades is at 27level.
Disclaimer: I am not a SEBI Registered Research Analyst. The information provided here
is for education purpose only. I will not be responsible for any of your Profit/Loss with this
recommendation. Consult your financial advisor before taking any decisions.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve
substantial risk and may not be suitable for all investors. Leverage can work against you as
well as for you. You should therefore carefully consider your investment experience as
well as financial condition before deciding if trading is suitable for you or not.
Elliott wave Analysis, All types of Asset classes are covered like, Indices, Stocks, Currencies and commodities.