SUNTV
Suntv in the cusp of Inverted Head and shoulder breakoutSuntv is about to give Inverted Head and shoulder breakout on the weekly chart
Rs 575 is the key resistance zone to watchout for. Once crossed above this level on weekly closing basis this stock will move high very quickly.
Do your own analysis before investing.
SUNTV Possible BO Long Term Trade IdeaSUNTV has been hitting a major resistance level since last few weeks in an ascending triangle pattern leading to a possible BO.
Wait for the BO & retest at the resistance levels (turns support) to buy.
All analysis provided in chart.
This is my first published analysis after months of private trade and practice.
Disclaimer: I am a SUNTV shareholder. I am not a financial advisor, so please do your own research before investing.
SUN TV -Long term Breakout level.Please taken entry once share have broken its Multi year resistance at 566 or below depend on your Risk appetite.
1. Multi year Resistance at 566
2. Golden crossover of 50 -200 EMA in coming weeks.
3. Stocks is currently at nearly at half way away from its Life time high.
SUNTV LongSUNTV after testing 560 resistance(10 year old strong resistance) has again come to the breakout levels.
The breakout strategy an be a simple bullish movement upwards.
OR
A cup and handle formation.
Equity buyers can buy at 565 and again at dips til 530.
Option traders can risk an ITM call as the stock results are going to be out soon and SUNTV looks a promising stock.
The LTP of SUNTV 550 CE is 23.1 for JUNE 2021 contract with an OI of 354. I am bullish on this and hoping to se 600/620/640 in coming months.
You can always do back testings on Day/Week/5min charts as per your experience and track the stock results to have a stronger view before taking any trade.
This is just my personal study and analysis. Do not trade on the basis of just my study. Do your own research as well.
SunTV is at crucial resistance1) there are many rounds on chart cannot say it a HnS or Cup handle pattern but considerable
2) Resistance zone is very crucial for the stock for short term as well as long term
3) if you see the trend line indicating that the medium term trend of the stock is slightly bullish
#SUNTV Inverted Head and shoulders.In the weekly time frame, we see an Inverted head and shoulders pattern above which is a strong resistance zone. Breaking of this resistance will give us a very clear upward movement.
We have given you all the possible outcomes in case of a breakout.
Educational purpose only - kindly do your own research.
Good luck.