Sun TV is showing a breakout from a cup & handle patternSun TV has given a breakout from a Cup & Handle pattern in daily time frame. The only caveat is lack of volume after breakout if it shows a healthy green candle above 509 with good volume it would be a good sign. It may try to move towards 620 level.
Disclaimer: This view is for educational purpose and not a recommendation.
SUNTV
Sun TV NetworkAfter reversing from a Bullish Harmonic Shark it has now given a breakout in weekly time frame as per Ichimoku which suggest further upside till 550 as long as it gives a weekly close above 485.
Coincidentally, the min expected retracement of 38% of the Bullish Shark is also in the same range along with a Bullish Harmonic Dragon which is running in daily time frame with the same level as a target.
Suntv | Circular Support & resistance 🎯⭕ Positional Trading opportunity ! Weekly Chart Alert !!! ⭕
--Buy Above =468.80 or CMP
--Target = 561.70 | 644.25
--Stop-loss = 420.95
--Lot Size = 1500
--R:R =3.67
--Expected Profit = 2,60,000+₹ per lot ( 37% )
--Expected Holding = 1-3 Months only
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⭕ Technical Reasons to trade or Strategy applied :- ⭕
1) Tried to find the circular support
2) Volume is too good
3) following a perfect price action
4) fundamentals are good as of now
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✍COMMENT Below your view !
(Positional) Buy SunTVTrade Setup: Stock has made a base around 410-430 levels and now showing signs of upward movement with volume on daily charts.
Buy Zone: 435-440
SL: 400 on closing basis
Target: Target1=465, Target2=508 Target 3=550
Imp:
1. Trading requires more than technical analysis . e.g. Risk Management, trade management, psychology etc.
2. Always follow stop loss.
3. Once a trade is in your direction (say) 2-3%, never let it go in a loss.
4. Simply follow rules. Nothing else..
Disclaimer: This is for demonstration and educational purpose only.