Moneycontrol
Mar 01, 2013 03:57 PM IST | Source: CNBC-TV18

Dish TV has strong support at Rs 60: Parag Doctor

Parag Doctor, Head - Trading Strategies, Keynote Capital's Ltd is of the view that Dish TV has strong support at Rs 60.


Parag Doctor, Head - Trading Strategies, Keynote Capital's Ltd is of the view that Dish TV has strong support at Rs 60.

Doctor  told CNBC-TV18, “We like Dish TV technically because there is strong support around Rs 60 and the stock has recently made a low around Rs 63 and recovered from there. So we are looking at a technical bounce because the stock has fallen from the Rs 85-90 zone down to the mid Rs 60. The bounce is expected to go to around Rs 75 where there is resistance from the 100 day average as well as 200 day average. This would be close to the entry level price of the investor. So I would advise to hold on and probably there is a chance of at least getting out even around these levels. If one has a longer term perspective then I expect as the market sentiment improves Dish TV would in the next six months or so go back to the Rs 90 levels. So if one wants to hold on then it is a good investment right now.”

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