The stock has been in an obvious bear market for a long time. The strategies to trade the stock would be to sell on rallies.
The parallel channel in purple presents an area of value and is the upper level of the general down trend. Shorting at this level will present the best entry.
SL near previous swing high.
Target @ previous swing low.
Prices on an absolute basis have not made new all-time lows, but on a relative basis, they have. The Nifty Media Index continues to underperform the Nifty 100 as this multi-year trend rages on. We’re not here to catch falling knives or be right about calling a top or bottom, we’re here to make money. And we do that by riding the strongest trends as long as they’re...
Nifty Media has failed to gain any meaningful traction over the last month and is now breaking down from its short-term bear flag. If prices are below their recent highs of 1,205 on an absolute basis, then we’d expect a retest of the lows near 971 and an eventual break to new lows that targets 830 over the coming 6-8 weeks. We’re not here to catch falling knives...
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
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Opportunity to add Stocks in Portfolio from Nifty Media Index.