MAYA_MUMBAI
Education

“When the sun has set in SUN-TV, No candle can replace it.”

NSE:SUNTV   SUN TV NETWORK LTD
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This is a daily chart of Suntv where i have shown the support and resistance range in rectangles
Suntv is already in downtrend - so we are looking for set-ups for shorting the stock
Suntv has already resisted from the resistance zone
Now where do we short sell Suntv ??
For that we shall go into the hourly chart!
Comment:

i expect suntv to have a weak upmove (as shown in the hourly chart)
where we can short around the level of 565 with a stop loss of 575
Look for targets around 520

So Hit like if you like my post
“There's a sunrise and a sunset every single day, and they're absolutely free.
Trade active:
larger time frame overview is much better than smaller.

+1 Reply
MAYA_MUMBAI NAVEDA_TRADING
@NAVEDA_TRADING,

Thanks for your view

I do agree , at larger time frame , we get a better picture.

However here what i have essentially shown here is a very small stop loss of 10 points

if there is a build up or consolidation happening on the resistance zone, Then it may eventually give in.

Anyway Next week will be interesting to watch
Reply
look for a dull and a gradual pull back which indicates bearishness !!
Reply
Every sunset brings promise of a new Dawn
Reply
@joel-vg,


Sunset is still my favorite color, and rainbow is second.
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Great educational post.
Never knew you had good knowledge of charts.
Even if the trade set up doesn't work. SL is only 10 points
Reply
MAYA_MUMBAI VijayGeorge
@VijayGeorge,

The most precious gold to be found on Earth is the sunlight!
Reply
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