I bought TV18 at Rs 43 last month, but the stock fell badly after that and I could not sell. What should I do?
EXIT TV18 BROADCAST BELOW RS 32
- Sumit Agarwalla TV18 Broadcast is currently trading at Rs 34.45. Its 52-week high/low stand at Rs 70.90/Rs 32 made on April 4, 2018 and October 9, 2018, respectively. The stock formed a bearish engulfing pattern at its 52-week high level and tumbled. Thereafter, the stock bounced back up to 38.2% retracement of the prior downward rally and retreated yet again forming a head & shoulders pattern on the daily time frame. The stock gave a pattern breakdown near Rs 50 level, which was also its resistance-turned-support breakdown. Now the stock is trailing at its 52-week low. We suggest you to exit below Rs 32, which is its double bottom and probably won’t be broken.