Description
⋅ SUN TV NETWORK LTD #SUNTV
- MOVING IN A NARROW RANGE; IN A DOWNWARD TRENDING CHANNEL
- FACING RESISTANCE FROM 400EMA ON 30MINS CHART.
- FORMED AN INSIDE BAR PATTERN IN DAILY TF
INDICATORS:
RSI AT 40-LEVEL AND IS BEARISH
TT2 TREND - BULLISH
CVD - POSITIVE
CONCLUSION:
1. BUY ABOVE UPPER CHANNEL
SL 386
TGT 400
SEE IF THE PRICE BREAKS ABOVE 403, BUY AGAIN WITH TGT OF 408/415/419
2. SELL BELOW 386.5
SL 100EMA; TSL 403
TGT 377/368
KEEP AN EYE!!
NOTE - BREAKOUT HAS TO HAPPEN WITH MORE THAN AVERAGE VOLUME AND THE FOLLOWUP CANDLE MUST SHOW CONVICTION!!
***in case of GAP opening, the given levels become invalid.
***this is my personal view. Please take advice from your financial advisor before investing.