SUNTV is at crucial position and either it has to break or make.
May take support of 200 MA and support trendline and bounce back. Otherwise, will chase for the gap of 600.
Selling Pressure continues to build in this stock. Will this be the month where we could see the Sun setting on the prices? Keep track of this stock for a good shorting opportunity.
Stock looks to have 779 - 796 as a good demand zone. We do have a trendline resistance approaching on the top as well. I would suggest to stay sidelines until the support or resistance is taken out. Beware of the impact due to political instability in Tamilnadu which will have a big impact increasing the volatility of the stock.
I am looking this stock will likely move on upward , brake of upper TL and small flag can lead us a good impulsive move up side
or the stock can move straight with out making any flag or correction
I am looking to go long on the brake of TL ,
Regards
Price action is consolidating inside a triangle. Buy above 837 with the stoploss of 833. Targets are 842, 846 and 850. Sell below 833 with the stoploss of 837. Targets are 829, 825 ans 823.
SUNTV: @ 828
After Harmonic Bearish BAT, Reversed from 0.618 level.
now traded at Fib R 0.382.
Bounced from KUMO Cloud (+VE, Green) to Above.
GO LONG: @ 826
Best LONG / BUY: @ 824 - @ 818.50
TARGET (Intraday / Swing): @ 838, @ 843.7 , @ 847.5 - @ 851.8 (HZ), @ 855.7+
More on Chart.
SL: 808.70- (By Closing) Or TSL @ 804.50
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Is the sun setting on SUN TV..?
After a brilliant run over the past 5 months the stock is seen gasping at higher levels. Despite its best efforts to revive there is not much participation seen. The two bar reversal coupled with the Fibonacci resistance has practically strangled the rise for now. The last two months have seen some profit booking and even in July...
Symmetric Triangle ( looks like Japanese hat ) pattern formation on Sun TV and it may break either side.
Trade Long:
Buy above - 827
Target 1 - 839
Target 2 - 854
Stop Loss - 815
Trade Short:
Short below - 815
Target 1 - 798
Target 2 - 782
Stop Loss - 827
Personal View - May break in downside. wait and enter into trade.
Sun TV has formed a double bar reversal pattern on Tuesday & Wednesday, a confirmation of reversal in trend came from a outside bar formation on Thursday+Friday.
One can go Long for a Target of 850/860. Keep a stop at 802.
Although the ADX is showing a non-trending phase, the stock is well known for its volatility which can move the ADX needle very quickly if the...
