Sun TV (election result based stock)
1. in longterm downtrend
2. medium term uptrend
3. short term reversal attempt from downtrend channel breakout.
4. after channel breakout, now stock retracing back and near support zone is 536-540
can enter long on this support zone with stop loss below the medium term trend support on closing basis.
target longterm downtrend resistance around 600.
short term uptrend will be confirmed if closes above 570 and can expect target of 600
on close of above 600, stock may go upto 640.
any close above 645 will give strong indication of longterm uptrend offing.
1. in longterm downtrend
2. medium term uptrend
3. short term reversal attempt from downtrend channel breakout.
4. after channel breakout, now stock retracing back and near support zone is 536-540
can enter long on this support zone with stop loss below the medium term trend support on closing basis.
target longterm downtrend resistance around 600.
short term uptrend will be confirmed if closes above 570 and can expect target of 600
on close of above 600, stock may go upto 640.
any close above 645 will give strong indication of longterm uptrend offing.