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Published on 11/02/2019 4:04:42 PM | Source: Choice Broking Pvt Ltd

Buy SunTv Ltd For Target Rs.610 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Sun TV Network Ltd #Entertainment #Trading Report #Choice Broking

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* On a daily chart, the stock has given a breakout of its range bound movement which indicates a robust upside movement in the counter in few trading session.

* Moreover, the stock has started to trade above its 21 Days Moving average which suggests a trend reversal in the counter for the time being.

* Furthermore, the volume activity is also very appealing along with a breakout and long bull candle which shows an accentuated buying during the trading sessions.

* A daily momentum indicator RSI reading is at 56.10 level with a positive crossover, apart from this, RSI has also formed a Positive divergence which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading session.

 

Recommendation

Buy SunTv Ltd @ 569.00-573.00 Stop Loss 555.00 Target 610.00

 

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