SagirKazi

Sun TV – Trending Fan Pattern, Resistance breakout above 558

Long
NSE:SUNTV   SUN TV NETWORK LTD
Technically Stock has habit creating Trending Fan pattern same can be seen in Monthly (Black Lines), Weekly (Red Lines) as well as Daily Charts (Green Lines).
This Time Stock gave Bullish Trending Fan Breakout around 470 levels, mostly due to Exit polls of TN election where DMK is expected to win.
On weekly Chart a Small Resistance is seen around 558, crossing same 2 year accumulation will get over and stock should start zooming in Short Span of Time.
Entry – CMP
Stop loss - 470 (515 after price runs up)
Target 1- 745
Target 2 – 985
Duration - 6 months to 1year (since target is huge)
All numbers are weekly based
Bussiness model: Running TV channels for South India
Dividend yeild 4.81%
Promotor holds 75% stock
0 debt company, (Debt free from last 10 years)
Profit continuously growing with good cash flow statement


Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
Trade closed manually: Even after DMK win in TN Stock failed to breakout above 558. Hence View Closed