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BUY – TV TODAY NETWORK LTD -- (MEDIA) (TVTODAY:NSE)

Long
NSE:TVTODAY   TV TODAY NETWORK
After marking its peak near 534, the stock remained under falling trajectory under a corrective decline. Over past couple of weeks, it has attempted to form a base in the 410-440 zones. RSI has marked a fresh 14-period high and this is bullish. RSI is also seen breaking out of a pattern formation. Being a lead indicator, price is expected to follow. Daily MACD stays positive trading above its signal line. A big white candle appeared on the Weekly Chart and it is significant as it appeared near the strong support area of 50wMA. A buy signal has emerged over Stochastic over the Weekly chart with a bullish divergence against the price. Trend reversal is expected. Any move below 398 will be negative for the stock.
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