Thursday, January 7, 2010

NETWORK18: Cup and Handle and TV18 IPO Effect

Network 18 finally is on the Run, the stock has broke out of its falling channel on 2nd Dec 2009, but i missed it, however, the stock ran from 80 rs. to 100 then and came down and today has completed a Cup and Handle formation. I reckon the stock should run up and can reach 153 in no time, however SL shall be 85. Plus IPO of TV18 is comin so there will be rub-off on that stock as well..

Monthly Pivot is at 90.67 can be a good support for stock.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
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