June 28, 2016
Sun TV (NSE Cash)
SELL
` 371
` 357 - 360
` 332
5-10 sessions
342
334
365
370
Bearish
Weekly Chart
Source: Falcon (Time - IST 09.47)
Last Friday, this stock confirmed a breakdown from the ‘Multiple Support Zone’ of 360 on a closing
basis after nearly three months.
As a result, the ‘Parabolic SAR’ indicator on the weekly chart turned into a ‘Sell’ mode, which is clearly
a negative sign in the medium term.
In addition, the daily ‘RSI-Smoothened’ momentum oscillator now slipping below the ‘50’ mark, which
may provide impetus to this correction.
Hence, we advise traders to sell this stock from current level to a bounce up to ` 360 for a target of `
332 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be kept at ` 371.
June 28, 2016
Sun TV (NSE Cash)
Last 6 recommendations
Date
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Recom. Buying/Selling CMP Target 1 Target 2 Stop-loss
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Target Achieved
Source: Angel Research
Research Team Tel: 022 - 40003600 (Extn.6552)
E-mail: [email protected]
Website: www.angelbroking.com
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