We recommend a buy in the stock of TV Today Network from a short-term perspective. It is seen from the charts of the stock that it has been on an intermediate-term uptrend from its December 2011 trough of around Rs 42. Short-term trend is also up for the stock since early September this year. The stock is trading well above its 50 and 200-day moving averages. On October17, the stock rebounded almost 7 percent and was testing key long-term resistance at Rs 75. Further, on Friday, the stock jumped 7 per cent emphatically breaking through its key resistance at Rs 75. We observe that there is an increase in daily volume over the past three trading sessions. Both daily as well as weekly relative strength index are hovering the bullish zone. Similarly, the daily and weekly moving average convergence divergence indicators are featuring in the positive terrain implying upward momentum. The daily and weekly price rate of change indicators are featuring in the positive terrain indicating buying interest. Our short-term outlook on the stock is bullish. We expect its up move to prolong and reach our price target of Rs 82.5 or Rs 84 in the forthcoming trading sessions. Traders with short-term perspective can buy the stock with stop-loss at Rs 77.2 levels.

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