SUNTV 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...
SUN TV Cmp 524 dated 21.5.2021
1. Inverted Head & Shoulder on chart
2. Above 540 it will move to 570-600-620-650-
670 SL 490.
It is just a view, pls trade at your own risk.
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Its Buy Dips Trade.
Wait for entry setup, if available then Long/short.
R:R is 4 to 8 times.
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Appreciate via Liking and Commenting , which boost up my moral for More Post with perfect Entry Exit Target setup.
Wait...
Passes all Elliot conditions
Correction wave A is same as wave 4
Correction wave B is 38% of wave 5-A
Expect down trend in this around the gap to fill and move to C
It is been observed that the price action moving up in a trend and now it breaks an important resistance breakout at 545 levels. Now, it shall reach further up to next resistance levels.
Target: 560
Stoploss: 545
As observed on weekly chart, the price action breaks out from a consolidated down-trend channel, indicating shiftinh of dominance power on prices from bears to bulls. Now Bulls shall reach out for previous resistance levels at 550-560 levels.
Target: 550
Stoploss: 480
The price action breaking out from a consolidation between trend lines or horizontal channel. I believe if the buyers manage to close prices above 500 levels then we might see a long upside move.
Kindly confirm the breakout at the end of trading session to initiate trades for tomorrow.
Hope you trade with care, Thanks for your support.
Regards
Sun TV Network Ltd. provides television broadcasting services. The firm engages in the business of Broadcasting of General Entertainment, News Television Channels and FM Radio Channels. It operates through the Broadcasting segment. The company was founded by Kalanithi Maran on December 18, 1985 and is headquartered in Chennai, India.
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