Network18: Eyeing 72 on Breakout

268
Details:
Asset: Network18 Media & Investments Ltd.

Breakout Level: 55

Potential Targets: 62, 68, 72

Stop Loss: 50

Timeframe: Short to Medium Term

Rationale:
Network18 is trading near the upper boundary of a descending channel pattern and is showing signs of breaking out above ₹55. Volume buildup and consolidation near resistance indicate strong buying interest.

Market Analysis:
Technical Setup: Channel breakout in progress, supported by increasing volume.

Catalysts: Positive sector momentum and recovery in media & entertainment space.

Risk Management:
Stop Loss: ₹50 to limit downside in case of false breakout.

Capital Allocation: Prefer small-to-medium position due to relatively volatile price action.

Risk-Reward Ratio:
Favourable with an upside potential of ~30% from breakout level.

If sustained above 55, Network18 may witness a strong uptrend towards the ₹72 zone.

Отказ от ответственности

Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.