Cup.
Prior uptrend from 486 to 545
65 minutes timeframe
base of cup has low volume.
Means selling ha dried.
Again on left side of cup volume increase.
Pivot is 551
Cup height is approx 550-520 = 30 rs.
So 5% move is possible on breakout.
I am watching only.
Not entering
Its almost ready to break Triple Top
RRG data shows NSE Media Sector is about give a good bull run after
Break and consolidation after 540 will take the stock back to 700 levels soon
520-530 levels are pretty important for SunTV. It has been beaten multiple times at this level. I would be interested only if i see a close above this level. The target would be 555-560 levels.
Suntv trying to break out from iits 3 months of range trading, it failed thrice in 3 months to sustain above it. Lets see if it trades above 453 & sustains ..
then could be bought with stoploss of 440 & targets of 475/500 in very short period of time.
Buy Entry @ 425
Target @ 645
Stop Loss @ 365
Note: Please leave comments for any query.
Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.
Best of luck..
Shakthi
