Mid Day Multimedia may test Rs 58-59: Bose

Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Rajat K Bose See what other Experts & Brokerages are saying about Next Mediaworks See messages about Next Mediaworks Next Mediaworks BSE | NSE 13/02/12 Are Mutual Funds betting on Next Mediaworks?

Technical Analyst, Rajat K Bose is of the view that if Mid Day Multimedia stays above Rs 52-53 range then it may test Rs 58-59.

Bose told CNBC-TV18, "Mid Day Multimedia yesterday has shown a breakout and we need to see whether it sustains above yesterdays high and move forward or not. Generally in this stock after you see a days breakout with good volume the next day after touching a new high, a higher high than the previous high, it doesn't sustain at those levels. If it manages to do so, if it stays above Rs 52-53 range then you can expect it to move up to something like Rs 58-59."

He further added, "Overall if one looks at it from a medium-term perspective whether one should buy this stock at current levels or not definitely yes, but if one is looking at a very short-term trading opportunity then these levels have to be looked at. So medium term bullish, short-term it could be volatile especially when you are buying after a day of good breakout."