BIG Breakout in this Media Stock !!

Hello Friends !! 

Thought of Posting a Quick Update on a Stock... The Stock is from the Media Index and I see a Big Potential in this Stock. 

Let's See About the Stock Quickly .. 

Today's Stock is SUN TV NETWORKS LTD. 

Let's Have a Look at the Charts 

This is a Monthly Chart for Longer term View... You May See a Dark Red Line on the Chart, Which Shows That the Stock was facing Strong Resistance or Support at this Level in the past. This is a Longer term Resistance for the Stock and Today The Stock is Looking for a Breakout from the level. 

The Stock was falling Since a Long Time and Took Support during the March 2020 Lows, Now Looking Strong and Reversing to move Higher. 

for Detailed View, Let's See One More Chart 

This is a Weekly Timeframe Chart and We can see Bullish Formations on the Chart. 

The Inverted Head and Shoulder Pattern Formed Exactly Across the Falling Trendline indicates The Stock has Prepared Nicely to Move Higher. The Inverted Head & Shoulder is a Strong Bullish Pattern and it gives a Target of Min 150 Points from the breakout zone, which in this case is Approximately 500 Levels. and The target area is 650 levels. 

The Current Weekly Candle is a Strong Elephant Candle Which Covers Last 3 Week of Bearish Candles and is closing Near the High. The RSI Indicator is also Turning Highly Bullish. The Stock is Expected to Perform Well in the near Future. In the Process .. The Stock has crossed and Closed above 200 Period Exponential Moving Average, which is a Good Sign. The 200 period Simple Moving Average is placed around 650 levels (approx), Near Our Target of Inverted Head & Shoulder Breakout. Nothing to Worry about the Downside. Downside is Limited to 500 levels. 

The Risk : Reward is Amazing and is Good For any Trade. The Risk : Reward at Present Stands at 1:3 

Recommendation : 

SUN TV NETWORKS LTD. 

Buy @ 545 - 555 

Stoploss : Weekly closing Below 500 

Targets : 644 - 677 - 722 - 777 

Do Not Jump in the Trade without considering risk and Potential Reward. 

The Move will be Consisting of Big ups and Downs. To Sustain in the Market, Just follow the Overall trend and Trade in the Direction of the trend. Calculate Risk Involved in the Trade if the Indices Correct towards the Supports or the Breakout areas for retesting. Do Not Blindly Jump in the Trade without calculating the Risk Involved. 

Consult your Financial Adviser before entering the trades. 

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RISK WARNING : 

Investing in Stock Markets Involves Potential Risk to your Capital and May cause harm to your Financial Positions if due care is not taken in following Risk Management. The Stock Selection done here is Purely Based on the Study of Price behaviour on Charts. Traders and Investors are Advised to Consult their Financial Advisers before entering the trades and Take Due care to Study the Charts and Fundamental analysis. 

DISCLAIMER : 

The Analyst ATUL SHINDE is a Technical Analyst, Global Market Expert and Certified Financial Adviser to many Global, Domestic Clients and Works as a Fund Manager in Global Markets. He is having an Experience of more than 13 years in Global as well as Domestic Markets. 

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