Dishtv had witnessed several major swings since inception as it moved from 142.80 to 11.90 level during the bear run of year 2008, followed by strong recovery to 97. And again, it slipped to roughly 39.50 level.
After series of volatile moves, Dishtv underwent in a consolidation phase within a triangle formation on weekly chart, while trading between 40-60 level. And, it recently witnessed an upside breakout from the same. The chart formation and confirmation indicators are in the favor of northward move to continue. So, participants can utilize this opportunity to initiate fresh long positions between 62-CMP (64.25) with closing below stop loss of 58 for the target of 76 level.