Observations:
Over the Monthly timeframe it just made breakout of TRIANGLE pattern, along with crossing 200-ema, R1-Fibpivot.
It seems to be in sync with Media index. Which is also just at its R1-Fibpivot.
Both index & stock are looking bullish.
Balaji telefilms : Demand area 28 32
Time frame : Monthly
balaji telefilms in falling trend however now soon will be touch near strong demand zone area.
against the trend investors can go long with small risk as heavy demand we can see at 28 32
one can follow WCB stop at 24
Risk rewards in favorable part.
balaji telefilms shown some strength today near 200 ema in 1 day time frame wait for a little pullback to have a good entry ( Rest chart explains everything :) ) NSE:BALAJITELE
