Sun TV (CMP: 425.15) the stock has tested the trend line support level
& bounced back with high volume which indicates buyers are in momentum. If resistance level of 425 breaks, then the stock will rise towards 460 - 500 levels. An addition, falling trend line break
out has been witnessed on the daily chart which is sign of bulls.
The support level placed at 395 -
391. On the weekly chart,
the RSI indicator has showed a positive
crossover which is added strength to the bulls.
Recommendation: Investors can buy on dips to 420 - 415 levels with a stop loss
of 391 (Close) for the target of 460 - 500 levels.
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