SWING IDEA - NETWORK 18 MEDIA
Updated
Network 18 Media, a prominent player in the media and entertainment industry, is showing signs of a promising swing trade opportunity based on several key technical indicators.
Reasons are listed below :
Target - 105 // 120 // 135
Stoploss - weekly close below 81
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- 75-80 Support Zone: The 75-80 level is a crucial support zone that has held multiple times, indicating strong buying interest at these levels.
- Bullish Engulfing Candle on Weekly Timeframe: The formation of a bullish engulfing candle on the weekly chart suggests a reversal of the previous downtrend and indicates strong buying pressure.
- 0.618 Fibonacci Support: The stock has retraced to the 0.618 Fibonacci support level and is now bouncing back, indicating a potential reversal and continuation of the uptrend.
- Breaking Consolidation Phase of 2+ Months: Network 18 Media is breaking out of a consolidation phase that lasted over two months, signaling the beginning of a new bullish trend.
- Decisive Break Above 50 EMA: The price has decisively broken above the 50-day exponential moving average, confirming the bullish sentiment and providing a strong support level.
Target - 105 // 120 // 135
Stoploss - weekly close below 81
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Note
made a high of 8% in 3 daysNote
made a high of 13%++Trade closed: target reached
1st target achieved : 15%++
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