nimbuz90
Short

Sun going down - for now??

NSE:SUNTV   SUN TV NETWORK LTD
The stock has been trading in a broad bear channel for the past couple of months. A symmetrical triangle breakout is observed on the downside which is also happening at the upper channel resistance line. Hence expecting the prices to fall till 820. CMP is around 870.
Shorts can be initiated on rise @ 875-880 levels. If it fails to move up, then we could short below 860.

Entry - Sell on rise @ 875-880 levels or below 860
SL - 910
T1 - 850
T2 - 840
T3 - 830
T4 - 820

For study purpose
Thanks
Trade active: Entered @ 870
Comment: Revised target 1 as 860 and took some profits here

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