SUNTV:
There are two possibilities like below
1) Take a retracement at support 546 and break 580 resistance as given in chart (Bull side breakout)
2) Break the support at 546 and reach 510 (Bearish side)
Highlights:
Broke out of a major resistance
Volume expansion
Bullish market structure
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
About the Company:
Sun TV Network Ltd is the second-largest television network in India, with 20 channels and 43 FM radios in several Indian languages. Sun Tv is the world`s no.1 Tamil...
The analysis is given on the chart
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Suntv near multi-year breakout , have a good potential.
1st safe target after crossing 680 is 800 , stock will struggle little bit upto price range 680. After few up and downs we can see other targets
2nd 900 , 3rd 1000 near about and final new all time high.
Monthly MACD crossover happened but the stock price not reacted and all my indicators are showing bullish on this stock. Daily MACD crossover also may happen on upcoming days. ADX trend is getting strong but price not moving much. It can shoot up on upcoming days. Price may move more than the target levels bcaz of the bullish signals in monthly chart....
