SUNTV DAILY CHART
Cmp 463 Breakout @ 468 Target 524
This stock is likely to breakout of its swing highs.
Time to keep an eye.
Its only an observation & not any suggestion.
NSE:SUNTV has vigorously dropped in the past and at the end of the drop it has created a Bullish Falling Wedge, this should ideally take the price up.
My expectation is this will go up to 1000 in a couple of years.
So, on every dip, one should think of buying and holding.
Sun TV Network Ltd. is one of the largest media conglomerate in India. It consists of 33 television channels in 6 different languages, 69 FM radio stations, 3 daily newspapers, 6 magazines and an IPL franchise. It is also one of the largest DTH (Direct To Home Satellite TV service) service provider in India having more than 16+ million subscribers.
Sun TV...
NSE:SUNTV has been sustained above level of 435 which was previous weekly resistance.
It is best time to take buy positional entry at level of 442-444 with stop loss of 415 (-27 Points)
My expected upside target will be 466 (+24) & 505 (+63).
Note: This is my personal analysis, only to learn stock market behavior. Thanks
Hello & welcome to this analysis
On the hourly time frame after giving a Hidden Bullish RSI divergence it is now giving an Inverse Head & Shoulder breakout that could take the stock to 450-460 as long as it stays above 425.
Good risk reward set up at the current juncture.
Sun Tv
PROS
Company is almost debt free.
Stock is providing a good dividend yield of 3.13%.
Company has been maintaining a healthy dividend payout of 39.0%
CONS
The company has delivered a poor sales growth of 6.26% over past five years.
Stock is under parallel channel since 1 month. Can be played for a swing upto and beyond 535+ levels.
CMP: 504
SL: Two successive daily closing below parallel channel.
