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Investors with a short-term perspective can consider buying the shares of Dish TV. The stock surged 2.81 per cent on Monday. The outlook is bullish.
The 200-day moving average at ₹97.50, mitigated the stock’s earlier fall that began from the high of ₹111.95 recorded in the last week of October. The contract has been in a near-term uptrend since then.
Monday’s strong rally has strengthened this upmove. The stock has also breached an important trendline resistance at ₹107.
This level will now act as a good resistance-turned-support for the stock.
The next key short-term support is at ₹105. Dips to these supports (₹107 and ₹105) are likely to trigger fresh buying interest. A rise to ₹110 and ₹112 looks likely. Traders with a short-term perspective can go long.
Stop-loss can be kept at ₹106.5 for the target of ₹111.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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