Network 18, after improving from a low ofRs.281.60 to a high of Rs.405 has reacted to a newlower level of Rs.190.25. It has left behind twouncovered bearish gaps at Rs.250 and Rs.280.25At the current price of Rs.169.90, it is trading in 4EZONE i.e. all the averages are in BEAR PHASEand the current price is placed below all theaverages. High risk traders can buy in the range ofRs.220-224 with a stop loss below Rs.216 in closefor a conservative upper target of Rs.250 and anoptimistic upper target of Rs .262. Holding periodcan be 6-7 days.
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