SWING IDEA - NETWORK 18 MEDIANetwork 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 :
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
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NETWORK18
NETWORK 18 - RANGE BREAKOUT FOR SWINGRANGE BREAKOUT FOR SWING TRADING
NEW BUY PRICE : 95
SL : 85 (only for swing traders)
TARGET : 120, 135 (40%)
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NETWORK18 - Bullish ConsolidationNSE: NETWORK18 is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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