TV18BRDCST has gained 3% on NSE in otherwise bearish market with crossing over the Ichimoku cloud and Tenkan corss Kijun signalling a further upside for TV18BRDCST.
Buy only at 61.85 with Stop-loss at 60.60 (on closing basis) and for targets of 65.60
Current price level is clearly a good demand zone where buyers emerge. We can go long here with small Stop Loss just below the low made recently on closing basis and expect a good profit in short term. RSI 40 for this stock worked as extreme oversold zone and again bouncing from this level thus confirming the idea of going long.
The stock has formed a nicely Wolfe wave at the Junction which seems to work as resistance. My experience with this patter is that it works better if it breaks the boundaries come back but we can still take the chance here by providing small stop loss of high of recent swing. Mostly it offers good risk to reward trade. Good Luck!