Dishtv broke the Market Profile Resistance - A good buy for 20% return in short duration
Market profile helps us to find the Value area acceptance and Rejection, Because Price a representation of Value. So price analysis is not required very much
Details mentioned in chart
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DISHTV after breaking the major trendline has been moving sideways since mid 2017
1) A close below 66 on weekly chart coul open up a big downside
2) A close above 77 could open up a big upside (with the upsloping major trendline acting as resistance)
Do consider these factors before taking any position in DishTV
1) DISHTV has been trading within a symmetrical triangle on weekly chart
2) 110 and 68 are going to be important levels in deciding the direction in days to come.
3) Triangle median is at 86.60 which is also going to be very important level.