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Thursday, August 25, 2011

Dish TV India Ltd. CMP - Rs 77.55

Technical Outlook & Trading Strategy:-

The share price of Dish TV has registered a breakdown from its head and shoulders pattern.

This is a bearish formation and the measuring implication of the pattern suggests that the price can decline to the levels of Rs 74.50 / Rs 73 levels in the near term.

The momentum indicators have also turned into sell mode which displays weakness in the
counter.

Traders can look to sell 50% at current levels and on rise to the Rs 78.50—Rs 79 levels with a stop loss placed below Rs 80.60 levels.