TV18 BROAD­CAST

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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.

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