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.
Network18 Media & Investments Limited (NETWORK18) is currently trading at 89.7. The technical indicators indicate a generally bearish outlook. The MACD is near neutral, but the RSI and Stochastic indicators suggest the stock is in an oversold condition. The Commodity Channel Index and Williams Percent Range also confirm a strong bearish trend.
Resistance levels to watch are around 96 and 99. A push above these levels might indicate a reversal or temporary bullish phase. Conversely, key support levels are at 86 and 77. If the stock breaks below these support levels, it could face further declines, potentially reaching around 58.
Currently, the stock is trading below its key moving averages, including the 50-day and 200-day EMAs, which further supports the bearish sentiment. Traders should be cautious and consider these levels for entry or exit strategies.
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