TV18BRDCST - (Study) :: FIB levels and Trendline 22-Sep-2021

TV18BRDCST - (Study) :: FIB levels and Trendline 22-Sep-2021
High Probability LONG Setup

BEARISH if, price closes below the Long term Uptrend line (Green)
and also closes below the 3years Resistance channel..

- Long term UP trend is intact (Green Line).

- On 24-Aug21 , there was a nice confluence of :

:: FIB 61.8 Level held

:: Trendline (Green) Support

:: Three Years+ Channel Support"

- on 14 Sep 21, price broke out from the 3 months long resistance by a good Impulse move

- After the small correction, Yesterday,, (21-Sep-2021) the share price saw buying pressure near the FIB50 level..
So, the Current levels may be a good entry for Long attempt.

- Use the FIB levels or your preferred method to average up and place stop loss..

-Very Cheap valuation ( pls comment if you know why??).

-Borrowings reduced from 1775Cr to 893Cr last year

-Highest TTM EPS

-Highest ever TTM Oper Profit Margin

Caution : Smallcap Media stock... May test your patience.. Prefer to allocate around 5% of your capital in tranches. And pls consult your financial advisor to know more about the trade related risks.

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