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DishTV Technical Analysis #65: Buy | Target Rs 37 | Arijit Banerjee

OUR RECOMMENDATION

CMP#31.25
IdeaBUY
Buy Range28 – 31
Target37 – 39
StopLoss*27
Duration25 – 30 Trading Sessions
Potential Return^18 – 25%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
31.25BUY28 – 3137 – 392725 – 30 Trading Sessions18 – 25%

# CMP on July 03, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 34.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

Dish TV provides DTH and teleport services as part of the Indian media conglomerate Zee Group and distributes its services throgh a network of distributors and dealers. Its products include DishHD+ with Recorder, Dish+, DishFlix and Dish on Wheels. Incorporated in 1988 in Noida, India the company broadcasts its products under three brands – Dish TV, Zing and D2H.

Stock Data
NSE CodeDISHTV
Sectoral IndexNifty Media
52W High74.65
52W Low19.1
Face Value1
Relative Performance_DishTV vs Nifty Media Index

TECHNICAL OBSERVATIONS (DAILY)

  • Technical indicators are currently giving positive signals as the stock trades above the ultra short term (5 day SMA) and short term (10 day SMA) moving averages.
  • Upside breakout from triangular pattern signals continuation of Uptrend.
  • Overall a positive chart and momentum pattern indicating an opportunity for a BUY trade. Look to Buy this stock as per the levels mentioned above.
Dish TV Daily Chart
Dish TV Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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