Rising equity prices always attract traders but sometimes the rise in price becomes a big trap. Everything happens so quickly that it becomes difficult to decide what to do next.
Something similar seems to have happened with TV18 stock - Look at the volumes
TV18 stock has always been all over the place with no clear trend. It can be clearly seen in the weekly chart
Pump and Dump process can happen anywhere but risk usually is very high in a trendless stock and also the stock that has such kind of trading history. Another stock that did the same: Pump and Dump - Fortis. It broke out to new high, created some enthusiasm but eventually it turned out to be big trap. And yes as a breakout watcher - such weird things do happen from time to time.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers