1. inverted head sholder pattern formed
2. rising wedge pattern form price movement
3. minor trend for ascending triangle pattern formed wait for breakout confirmation after buy entry and neckline targert 839
SUNTV Network
SUNTV is in strong Buy Zone.
MY view is, It will move up to the expected target levels of 559, 597, 650
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Its is god time to Buy SUNTV.
The Tamil Nadu Election's Big Win, will help the stock to shoot up soon and it may reach the targets of 650, 776, 835,955 in coming days. Even, a quick profit between 5%-15% can be booked easily in couple of months.
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4 Patterns Together :
1. Bullish Engulfing On Daily Chart
2. Bouncing From 50% Retracement Of Recent High
3. If We Combine Last 4 Day Candles It Will Make A Long Pin Bar From Low.
4. If You Will Look Closely It Has Also Formed Higher High, Higher Lows From December.
Rock Solid Support Now At 507
Buy Above 530.5 (More Strength If Give Weekly Close Above...
Note: This is for educational purpose only.
There seems to be a cup and handle pattern bullish breakout in Sun TV with good volume. RSI above 65 indicates bullish momentum.
SunTV forming a channel in 2 hour time frame.
Either side opportunity there.
Trade according to the direction of the breakout.
Up-Side: Long: Target: 509-510.
Down-Side: Short: Target: 445-450.
Possibility of great reward trade.
Price about to break the triangle pattern, if today closes above the previous resistance strong then tomorrow it might trade super bullish. Lets wait for the break from the pattern.
