Dish TV India

We recommend a buy in Dish TV India stock from a short-term trading horizon. It is evident from the charts of Dish TV that it has been on an intermediate-term uptrend from October 2008 low of Rs 11.75 (a 52-week low). Since then, the stock has been forming higher peaks and higher troughs. The stock has been trading well above its 21- and 50-day moving averages. On April 6, the stock penetrated its 200-day moving average, jumping 8 per cent with an upward gap. Moreover, the counter broke through a key resistance at Rs 28 on April 8, surging 7 per cent. We notice that there is an increase in volume over the past three trading sessions. The daily relative strength index is featuring in the bullish zone and the weekly RSI is on the brink of entering in to this zone from the neutral region. Considering that the intermediate-term up trendline is intact, we are bullish on the stock from a short-term perspective. We expect it to rally until it hits our price target of Rs 34. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 28.