SUN TV NETWORK LTD - NARROW RANGE BREAKOUT!!

SUN TV NETWORK LTD #SUNTV

- MOVING IN A NARROW RANGE; IN A DOWNWARD TRENDING CHANNEL
- FACING RESISTANCE FROM 400EMA ON 30MINS CHART.
- FORMED AN INSIDE BAR PATTERN IN DAILY TF

INDICATORS:
RSI AT 40-LEVEL AND IS BEARISH
TT2 TREND - BULLISH
CVD - POSITIVE

CONCLUSION:
1. BUY ABOVE UPPER CHANNEL
SL 386
TGT 400

SEE IF THE PRICE BREAKS ABOVE 403, BUY AGAIN WITH TGT OF 408/415/419

2. SELL BELOW 386.5
SL 100EMA; TSL 403
TGT 377/368

KEEP AN EYE!!

NOTE - BREAKOUT HAS TO HAPPEN WITH MORE THAN AVERAGE VOLUME AND THE FOLLOWUP CANDLE MUST SHOW CONVICTION!!

***in case of GAP opening, the given levels become invalid.

***this is my personal view. Please take advice from your financial advisor before investing.