SUN TV NETWORK LTDPembelian
sunTV [cup & handle]
SUN TV Network Ltd. (NSE: SUNTV) on a monthly timeframe. The chart highlights a "cup and handle" pattern, which is a bullish continuation pattern. Here's a detailed breakdown of the analysis:
Cup and Handle Pattern:
Institutional Activity:
The annotations highlight areas where institutional sellers and buyers were active.
Institutional sellers were active around the peak before the cup formation.
Institutional buyers appear to be active around the breakout area.
Price Targets (TRG):
The chart indicates two price targets based on the breakout.
The first target (1st TRG) is around 1000 .
The second target (2nd TRG) is around 1400 .
Support and Resistance Levels:
The breakout level around 778.95 INR now acts as a support level.
The previous resistance level, where the breakout occurred, is also marked.
Potential Future Scenarios:
Bullish Scenario:
If the breakout holds and the price continues to rise with increasing volume, the stock may reach the first target around 1000
Further bullish momentum could push the price to the second target around 1400.
Bearish Scenario:
If the breakout fails and the price falls back below the support level (778.95 ), the stock could retest lower levels within the handle formation.
"Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible.
Before taking any trade on our charts / calls, please consult your financial advisors. Thanks
Cup and Handle Pattern:
- The chart shows a rounded bottom forming the "cup" and a smaller consolidation forming the "handle."
- This pattern suggests a potential bullish breakout.
- A volume spike accompanies this breakout, adding validity to the move.
Institutional Activity:
The annotations highlight areas where institutional sellers and buyers were active.
Institutional sellers were active around the peak before the cup formation.
Institutional buyers appear to be active around the breakout area.
Price Targets (TRG):
The chart indicates two price targets based on the breakout.
The first target (1st TRG) is around 1000 .
The second target (2nd TRG) is around 1400 .
Support and Resistance Levels:
The breakout level around 778.95 INR now acts as a support level.
The previous resistance level, where the breakout occurred, is also marked.
Potential Future Scenarios:
Bullish Scenario:
If the breakout holds and the price continues to rise with increasing volume, the stock may reach the first target around 1000
Further bullish momentum could push the price to the second target around 1400.
Bearish Scenario:
If the breakout fails and the price falls back below the support level (778.95 ), the stock could retest lower levels within the handle formation.
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"Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible.
Before taking any trade on our charts / calls, please consult your financial advisors. Thanks
Catatan
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