Network 18 Media may test Rs 63-64: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Network 18 Media & Investments is trader's delight kind of a chart pattern. Yesterday it had a good move of about 3.90 points to close at Rs 57.55 and with a price volume breakout. It is showing a potential to go to a minimum level of Rs 63-64 where last time it posted a top around July.""It is likely to rescale up to those levels, but this pattern, if you look at it from a larger timeframe, larger perspective, it is showing signs that there is a possibility of a revival of the uptrend; uptrend this time I mean medium-term uptrend or if not, the long-term uptrend - that is the earliest sign visible out there.""I have given it a day trading buy where I have put two targets - Rs 60.50 is the first resistance and Rs 63 though Rs 63 to about Rs 65 is the resistance zone and that's why the second target is at Rs 63, put a stoploss below Rs 54.75 and I would urge the traders that the chart pattern being such, if it were to fall even then buy it because from a medium-term perspective it can even cross Rs 80 on the upside," he said.Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.