SunTv might breakout from its hourly trendline. Below 381 can give good breakout to 375 levels. If 375 levels are broken it can further move down to 365-368. Market looks bearish tomorrow and this could provide a good shorting oppurtunity.
Going for shorts tomorrow
May be open tomorrow 2.5% lower
Pl check my analysis on sun tv
internal_0rgan
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@pk_1989, Great analysis.I'm not good with harmonic patterns as I am just starting out with trading.Will follow your charts to learn more on harmonic patterns.
And yes,I'm expecting a gap down opening as well but below 374 looks good for a short to me.Let's see...
ashwinchakravarthi
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@internal_0rgan, hi brother i had sell sun tv on 373.6... now it is 385...what will be its target and stop loss.. please give me information.
internal_0rgan
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@ashwinchakravarthi, On 373.60 ? I didn't trade the stock as the day's low was formed in the first 15 minutes and there was no volume,vwap or any other confirmation to short the stock below the support zone. But if i had traded my stop loss would have been below 378. I I was aiming for target of 365
internal_0rgan
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@ashwinchakravarthi, The trendline is acting as resistance. There can be a breakout if it breaches the trendline ,other wise it can test 375 levels again
May be open tomorrow 2.5% lower
Pl check my analysis on sun tv