Dish TV can test Rs 68: Amit Harchekar

Dish TV can test Rs 68, says Amit Harchekar, Sr Technical Analyst - CMT, IIFL India Private.

Harchekar told CNBC-TV18, "Dish TV on the medium term chart was forming a lower top lower bottom but in yesterdays trading session there was a good reversal which was seen from a piercing pattern. So this rally could sustain towards Rs 65-68."
He further added, "If the stock manages to take out Rs 68 on a weekly closing basis then we will have a clear confirmation as the stock would be entering into a medium term up trend. So our view for Dish TV in short term it's positively biased, Rs 68 would be the level I would be watching on the upside."
The share touched its 52-week high Rs 94.20 and 52-week low Rs 54.30 on 20 Jul, 2011 and 09 Feb, 2011, respectively. Currently, it is trading -33.6% below its 52-week high and 15.19% above its 52-week low. Market capitalisation stands at Rs 6,657.80 crore.