Sell Dish TV::HDFC Securities

Please Share::

�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��

��

-->
Observation
 The stock is showing negative bias for the short term.
 Price has completed the rising leg from 39.50 to 69 in 3 wave
advance which is a retracement rise - not a fresh bullish leg.
 The last rise was complex in nature as the internals are “W-XY”;
and the rise has halted at 69 which is medium term
channel resistance.
 In past, lower top and lower bottom swings has been
witnessed and after retracing above 61.8% of preceding fall
next falling legs are 100% of earlier leg. Overall to complete
the major corrective phase one more falling leg is pending
which could push the stock down towards 51 – 40 levels.
 Traders could short the stock between CMP to 64 with the
stoploss of 67.50 on closing basis for the targets of 51 - 41.