Dish TV likely to trade in Rs 76-86 range: SP Tulsian

Dish TV is likely to trade in Rs 76-86 range, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “Dish TV has been improving its performance, if you see their March and June quarter the numbers have been very satisfactory and they have been showing continuous improvement. I am keeping my positive stance even tomorrow also because of the digitisation move, with the deadline of October 31 we are seeing a good ramp up even in the share price of Dish TV and in the share of dish companies as well.”
He further added, “It is not only in respect to the cable companies like Hathway and DEN which have been seeing, but in case of Dish TV we have been seeing a lot of volatility and now the share is ruling in the range of Rs 76-86. So, I wont be surprised to see the share moving back to about Rs 85-86 by expiry post Q2 numbers which they will be announcing tomorrow.”
“TDSAT news is positive for Reliance Comm and negative for MTNL. But generally, we have been seeing in case of R Comm that any kind of positive news, which has been making the shares to move up, the prices are not sustainable. So maybe a level of Rs 64 seems to be a big resistance, which can be read in terms of the technical parlance also that even this fundamental news may not be able to pull it beyond Rs 64. So, I will not advise to go long except if you really want to trade for a gain of couple of rupees or so.”