Short Term Buy Call For Dish TV India
December 4, 2009 by Trend PK
Filed under Technology News
Stock market analysts have maintained ‘buy’ rating on Dish TV India stock with a short term target.
According to analysts, interested investors can purchase the stock on declines with a stop loss of Rs 18. If the stock market remains positive in the coming days, the stock pricing becomes more attractive, and reach above Rs 25.
Today (Jan 27), the company’s shares opened at Rs 18.60 on the Bombay Stock Exchange (BSE), as against its last closure at Rs 18.40 on Friday (Jan 23). The share price has seen a 52-week high of Rs 75.80 and a low of Rs 11.75 on BSE.
It is clear from the charts of Dish TV that it has been on an intermediate-term up trend from its 52-week low (Rs 11.75), which was recorded in late October 2008.
The company’s stock, on December 10, conclusively came through a key resistance level of Rs 18 by gaining 16%.
Presently, this resistance level is acting as a major level of support for the stock.
Taking twin support from an important support level at Rs 18 and the intermediate-term up trend line, the company’s stock surged 3.5% along with good volume on January 23. This positive move has further strengthened the bullish momentum.
The daily relative strength index (RSI) is going up in the neutral region in the direction of bullish region.
Considering that the intermediate-term up trendline continues to be intact, analysts are confident on the stock from a short-term viewpoint.
They think the stock to gain further until it hits their said target of Rs 21 in the forthcoming trading sessions.
Short Term Buy Call For Dish TV India was first posted on January 27, 2009 at 1:06 pm.
