Tv18 Broadcast ltd on a daily chart stock price is
making higher high and higher low pattern, also its trading above 20 DMA &
50 DMA, indicate stock is well placed above the support level. On a daily chart
stock price at Rs. 49.70 has given the breakout of rounding pattern at Rs. 48.70,
indicate rally will continue towards north. Momentum oscillator MACD on weekly chart
is on the verge to give positive crossover, which add more bullishness for the
stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 49.50 for the target of Rs. 62/68 levels, with Rs.44
stop loss on closing basis.
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