Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Dish TV India Limited, trading at 13.28, reveals a bearish outlook with the recent bearish engulfing pattern, suggesting more downside may be ahead. Key support lies at 13.23, and a break below this level could signal a decline towards the 52-week low of 12.85. Resistance levels to watch include 14.02, which aligns with the 20-period EMA. The ADX indicates a weak trend, while the RSI suggests oversold conditions, potentially paving the way for a short-term bounce.
Recent price action shows lower highs and lows, with moderate volatility reflected in the ATR. Gaps at 13.43 are crucial, as a breach may lead to further declines, while reclaiming the 14.02 level could attract buying interest. Traders should exercise caution and monitor momentum indicators for potential trend reversals.
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