Dish TV India Limited (DISHTV) Stock - Complete Technical Analysis - Dec 05, 2024

Dish TV Technical Analysis Key Support, Resistance & Momentum Insights for 2024

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. Detailed Technical Analysis for Dish TV India Limited (DISHTV)

Dish TV, with a current price of 11.48, is currently trading well below its 52-week high, which was 26.05. However, the stock has found some support at 11.14, and it is holding above its 52-week low of 10.25, making the 11.14 to 11.23 range a key support zone. Over the past week, DISHTV has shown some price fluctuations, testing both support and resistance levels. The stock had a small price surge recently, where it went from a low of 10.80 to close at 11.48, indicating a potential reversal from a short-term downtrend.

Key Support and Resistance Levels: On the downside, the critical support level lies around 11.14, and a drop below this level may lead the stock to test its 52-week low of 10.25. On the other hand, resistance is seen near 11.75. A breakout above this level could signal a potential move towards 12.00 or higher.

Trend Indicators: The MACD is currently in negative territory, suggesting bearish momentum. The RSI is hovering near 46, indicating that the stock is neutral but could be approaching oversold conditions. Meanwhile, the Stochastic Oscillator shows some buying pressure as it is above the 50 mark, signaling that there could be a short-term upside if buying interest increases.

Volatility and Risk: The ATR for DISHTV is relatively high, suggesting that traders should expect significant price fluctuations. Recent price actions like the gap from 11.40 to 11.69 and the pullback to 11.23 indicate that volatility could play a key role in determining the stock's next movement. Investors should be prepared for price reversals, as the stock could experience swings within the 11.14 to 11.75 range.

Key Takeaway: The stock's price action over the past few days indicates that DISHTV may be in a consolidation phase, with strong support at 11.14 and resistance at 11.75. A break above or below these levels could signal the next phase of the stock's movement, either a breakout or a breakdown.