SUN TV NETWORK LTD
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakout of Falling Wedge Pattern.
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 612+.
✅Can Go Long in this stock by placing a stop loss below 590-.
A stock which is showing strength becuase its cheap but also a movie it produced with Rajnikanth did exceedingly well. Also as we tend to enter election cycles...Newspaper/Media stocks tend to gain extra revenues.
Long above 622 with a SL below 600. (Wedge breakout)
In the Weekly Chart of SUNTV ,
we can see that, it has given Trendline breakout.
Let it retest the Trendline and then enter with SL and Targets.
Expected momentum is shown in chart.
Stock Name - Sun Tv Network Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 573
#This is not Buy and Sell recommendation to any one. This is for...
1. Break of downward trend channel
2. Retest of upper channel TL
3. Double bottom formation
4. Major trend is bullish
5. Risk to reward is very handsome
this chart is monthly charts,its longterm charts for 1 to 3 years velidation,after very long time this stock get momenttam buy only above 550 monthly cendle close confermations,my first target is 600 n longterm target is mention on this chars
Sun Tv gives breakout and retest the breakout level. good opportunity for swing trades with very small Stop Loss. 1st Target = 570 2nd Target = 610 Stop Loss = 516. NSE:SUNTV
There's a strong support around Rs 440 and from there SunTv tried to push it in up direction following uptrend. And the nearest Target visible is RS 681, and in long run it may try to break the high of RS 1080.
HAPPY INVESTING
Comment your thoughts and let me know of your ideas.
Thank you. ^_^
