suntv inverse head and shoulder good to accumulate read descript
Diupdate
-----fundamental analysis------
suntv is one of the top stock belonging to media sector with margin about 70% where market cap is almost equivalent to zeel market cap
so can be considered as market leader
dept free
promoter holding 75%
Bussiness of the stock
the stock has various tv channels like gemini , kushi tv,etc
has multiple fm radio channels and runs some news papers
owns sun risers hyderabad ipl team (may be this quater might have good results due to this)
also has sun network cable operations
further they are investing in ott platform and oline content along with expansion of cable networks and are investing in sunnext
and are also trying to make some movies in next 2-5 years
The stock tried to delist at 625 two times and failed but now trading below 500 where year on year eps is growing and further they
are expanding business as mentioned above
In 2018 we can see stock traded above 1000,but from there it fell, so usually trades between 400-500 so at this range can be considered
fair price
so fundametally good and business wise good
------news based and beyond fundamental and technical analysis -------
may 2 2021 there are results of tamil elections which is sunday so effect will be on monday
so tamil elections will act as a trigger for the stock and positive sentiment will be there for the stock
because if dmk won the elections , sun tv will be benefited in business wise expansion and they will get permissions required easily
so it would be easy for the firm to expand easily in presence of supportive government
so coming to chances of dmk wininng elections ,, dmk party has already won 28 mp seats out of 32 mp seats so based on this we can expect
them to win mla seats also
however if they dont win , there might be price fall due to sentiment but fundamentally and in long term the stock will recover
gradually ,might fall to 370-410 however already stock has corrected from 570 to 470 as it is already down by 100 point actually it
is at low only ,so there might not be too much rick based on current price
and if they win stock is expected to go above 1000 which gives risk reward ratio 1:4 as if stock falls might not fall below
350-370
however stock tried to delist at 625 two times and below that price is a good opportunity to buy and based on bussiness expansion and all
even this news based trigger fails also there will be no problem fundamentally
as it is a F&O stock news based triger may lead to ban in F&O so be careful if taken positions in F&O
Expectations--- if they win elections stock is expected to move up 25-35% in one month or an circuit on next day of elections results
i.e monday
----------technical analysis-----------
i did not mentioned 200 ma ,supertrend ,and invert head and shoulder to make graph look less messier
we can see the cycle form 2018 its down trend and price is below 200 ma &,200 dma, anyone you can consider, and super trend showing bearish
and the price is making lower lows and lower highs
After covid we can see the formation of higher highs and higher lows along with invert head and shoulder pattern(bearish end or bullish pattern)
and price is now above 200 ma and 200 dma and supertrend also showing long on weekly basis
and we can see the forming of cup ( expected) or u shape recovery
on the down side of graph we can see no of bars from 2018 peak candle there are 115 weekly candles formed based on that if news based trigger
fails also we can expect by 2022 jun just expected projection and in near term can consider 625 as next swing, as a saying says
history repeats in stock market
and can see the support and resistance lines on the graph where 450-470 is fair and good price for suntv(even if we consider precovid level the stock is at the precovid price only) in jan 27 weekly candle we can see stock traded between 431-504.6
----------------------------------------
disclaimer--
this post is only for educational purposes this is not an stock recommendation
just my view
trade at your own risk
thank you for reading
jayasurya :)
suntv is one of the top stock belonging to media sector with margin about 70% where market cap is almost equivalent to zeel market cap
so can be considered as market leader
dept free
promoter holding 75%
Bussiness of the stock
the stock has various tv channels like gemini , kushi tv,etc
has multiple fm radio channels and runs some news papers
owns sun risers hyderabad ipl team (may be this quater might have good results due to this)
also has sun network cable operations
further they are investing in ott platform and oline content along with expansion of cable networks and are investing in sunnext
and are also trying to make some movies in next 2-5 years
The stock tried to delist at 625 two times and failed but now trading below 500 where year on year eps is growing and further they
are expanding business as mentioned above
In 2018 we can see stock traded above 1000,but from there it fell, so usually trades between 400-500 so at this range can be considered
fair price
so fundametally good and business wise good
------news based and beyond fundamental and technical analysis -------
may 2 2021 there are results of tamil elections which is sunday so effect will be on monday
so tamil elections will act as a trigger for the stock and positive sentiment will be there for the stock
because if dmk won the elections , sun tv will be benefited in business wise expansion and they will get permissions required easily
so it would be easy for the firm to expand easily in presence of supportive government
so coming to chances of dmk wininng elections ,, dmk party has already won 28 mp seats out of 32 mp seats so based on this we can expect
them to win mla seats also
however if they dont win , there might be price fall due to sentiment but fundamentally and in long term the stock will recover
gradually ,might fall to 370-410 however already stock has corrected from 570 to 470 as it is already down by 100 point actually it
is at low only ,so there might not be too much rick based on current price
and if they win stock is expected to go above 1000 which gives risk reward ratio 1:4 as if stock falls might not fall below
350-370
however stock tried to delist at 625 two times and below that price is a good opportunity to buy and based on bussiness expansion and all
even this news based trigger fails also there will be no problem fundamentally
as it is a F&O stock news based triger may lead to ban in F&O so be careful if taken positions in F&O
Expectations--- if they win elections stock is expected to move up 25-35% in one month or an circuit on next day of elections results
i.e monday
----------technical analysis-----------
i did not mentioned 200 ma ,supertrend ,and invert head and shoulder to make graph look less messier
we can see the cycle form 2018 its down trend and price is below 200 ma &,200 dma, anyone you can consider, and super trend showing bearish
and the price is making lower lows and lower highs
After covid we can see the formation of higher highs and higher lows along with invert head and shoulder pattern(bearish end or bullish pattern)
and price is now above 200 ma and 200 dma and supertrend also showing long on weekly basis
and we can see the forming of cup ( expected) or u shape recovery
on the down side of graph we can see no of bars from 2018 peak candle there are 115 weekly candles formed based on that if news based trigger
fails also we can expect by 2022 jun just expected projection and in near term can consider 625 as next swing, as a saying says
history repeats in stock market
and can see the support and resistance lines on the graph where 450-470 is fair and good price for suntv(even if we consider precovid level the stock is at the precovid price only) in jan 27 weekly candle we can see stock traded between 431-504.6
----------------------------------------
disclaimer--
this post is only for educational purposes this is not an stock recommendation
just my view
trade at your own risk
thank you for reading
jayasurya :)
Catatan
currently under F&O ban as results are coming nearCatatan
results today need to see what happens ,however by month end based oi in option chain likely to close around 540-550Catatan
need to see whether today goes to f&O ban or not ,once closes above 565 can rally greatlyCatatan
is still range bound and it is weekly chart so will take time 1-2y but if taken when idea posted you will be already in profit ,so can exit ,this one defensive stock
but there is lot of game going on behind and in f& o so better stay away from political stocks
idea closed ,if want to add on
dip1 500-520
dip -2 450-500 is best and they are going start flim producing and series from 3rd quater of this year
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