One can enter @CMP or wait for the stock to get support from green trendline or you can enter after breakout, I'm not a SEBI Registered analyst and I'm not responsible for your profit or losses.
Share your thoughts on this.
Sun TV clearly follow the 3-driver pattern. And currently the price has reached the Target 1 and after the breakout today at 570Rs, it moved rapidly to 590 and inching closer to the next target. And we have good lineups for Sun Network, it is possible to reach the second target or even the third target in the coming days.
Nifty Media is forming zigzag, which is the part of Wave-E of higher time correction. Soon we will see Nifty Media at 2700, 3200, and 4000 levels, but this will take time to achive.
Broken multi week resistance with very high volume and nifty media is forming an uptrend.
Disclaimer: Views are for education purpose only. Do your own research before investing.
POSITIVE SIDE:
1. If the market starts with a bloodbath as it happened for the last few monday, we can expect PVR to turn bearish. Corona lockdown is another such indication for the bearish movement.
2. Wait for the support break. Most probably it has to break when the market starts with a bloodbath.
3. Target 1 is a easy reach. If the moving average 20 & 50...
NIFTY MEDIA seems to have formed an inverted hammer at the top of the trendline. Till a close above the UTL, this could result in a fall down, and hence in the media stocks too.
