This is the analysis of NDTV in Daily Time Frame. Watch carefully. The chart explains itself.
The stock managed to break the Rectangle Pattern with volume. Now retesting the breakout level. If it will sustain above the breakout level, it is good for the stock. Generally Rectangle Pattern Breakout is a bullish signal for stocks.
There are some prediction levels....
1.Formation of cup pattern and breakout
2.Choch happened NDTV has been in downtrend after consolidation foe 300 days it gave a good breakout with good volume
3.RSI took support from 60 and ready to rally
276.9 would be a great resistance
Stock Name - New Delhi Television Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at CMP, Small hurdle at previous swing high at 277 &
above 277 it can touch 292.
#This is not Buy and Sell recommendation to any...