Hello All Again,
Many Stocks are Trying to get Breakout after recent correction in Mid Caps and Small Caps. We are Getting Many Stock ideas ready for you one by one..
Will Post Few of the Stock ideas here, Remaining will be Exclusively for our Paid Members Only ..
Let's Discuss About Today's Stock : DISH TV Ltd.
Let's See What Chart Speaks :
This is a Monthly Chart of Dish TV Ltd. We Can see the Sharp Correction witnessed by the Stock after hitting high around 120 level, Stock has fallen to make a low near 32 level, almost a 75% cut in stock price.
Near 32 Levels there is a Good Support from previous price data. The Stock has formed a Reversal Doji on the Support, which is as good as a Pin bar on support with long leg. Current Months Candle is looking good as of now, supporting the Doji trading above close and High of Previous candle. Indicating the reversal is almost confirm in this stock. The Conclusion can not be taken at this point as hardly 6-7 days of this month are over and we have a long month ahead. For Confirmation of the next move, Let's see Lower timeframe chart..
This is a Daily Timeframe Chart, We may see a breakout from falling trend line is successfully done with the support of a Bullish formation on the chart.
The Bullish Formation is Inverted Head and Shoulder Formation. This one is a Small Formation, but as far as price is concerned it was a much needed setup to push prices above the Resistance levels.
This Formation is complete and Has given breakout above the Neckline of the Formation. Candle of 07th Jan Closed above the Neckline with strength. The Target of this breakout is 8 Rs. from the Neckline. We also intend to buy the Stock only on retest of the neckline. The Stoploss is smaller as compared to the Target of the breakout.
Recommendation :
DISH TV LTD.
Buy : Near 40
Stoploss : 38
Targets : 44 - 48
As per the trade, The Risk is 5% of the Capital Required and Reward is 20% of the Capital Required. For me the trade is giving a Risk Reward Ratio of 1 : 4, which is a good setup for anyone to enter.
Investors having Big Portfolios may Contact me for Your Portfolio Restructuring, Portfolio Management Services.
Disclosure :
The Author is a Global market Expert and a Certified Investment Adviser having almost 12 years of Experience and a client base around the world. The Adviser suggests to trade the stock with Proper Risk Management and Proper Asset allocation. Don't come crying for losses due to the trades, you are in stock markets to make money after considering all Risks associated in Investing in Stock markets. Views expressed here are based on Technical analysis of Charts Only.
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