(Short Term Cash)
November 04, 2016
Sun TV (NSE Cash)
SELL
` 532
` 518 - 522
` 491
5 - 10 Sessions
Daily Chart
Source: Falcon (Chart Time: 10:25 IST)
Justification:
The stock has witnessed a spectacular run in last four months and in the process, has registered its all time
high of 566.95 during the early part of October 2016. Now, after three weeks of consolidation, the stock has
shown early sign of weakness, which we can interpret as a profit booking after such a sharp rally. We can now
observe a negative crossover of short term moving averages ‘5 EMA’ and ’20 EMA’. In addition, the ‘RSI-
Smoothened’ level has dropped below the 700 mark convincingly for the first time in the recent past.
Considering these evidences, traders are advised to sell this stock at current levels and on a bounce up
to `522 for a target of `491 in coming 5-10 sessions. The stop loss for this trade set up can be kept at
`532.
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November 04, 2016
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Active
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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