Sun TV Network Limited (SUNTV) Stock - Complete Technical Analysis - Sep 18, 2024

Sun TV Network Stock Analysis: Bullish Indicators & Key Support Levels NSE Technical Review

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Welcome to this technical analysis of Sun TV Network Limited (SUNTV). As of the latest data, SUNTV is trading at approximately 825.

Support and Resistance Levels:

Immediate Support: Around 807.74 (Camarilla S1) and 751.93 (Classic S1).

Immediate Resistance: Around 836.47 (Classic Pivot) and 850.23 (Camarilla R2).

Moving Averages:

The stock is trading above the 10-day, 20-day, and 30-day EMAs, which indicates a short-term bullish trend. The 50-day and 100-day EMAs also show upward momentum, though they are currently positioned below the recent price, suggesting potential support around these levels. The 200-day EMA is notably lower, pointing to a longer-term bullish trend.

Technical Indicators:

MACD: Currently in a positive zone, indicating bullish momentum.

RSI: At 53.07, it suggests a neutral to bullish sentiment.

ADX: At 18.1, the trend strength is weak, suggesting that the stock may be in a consolidation phase.

Stochastic %K: At 74.47, this indicates that the stock is nearing overbought conditions.

Awesome Oscillator: Negative, suggesting a potential slowdown in bullish momentum.

Williams %R: Around -34.26, indicating that the stock is approaching overbought levels.

CCI: At 101.45, signaling strong upward momentum.

Ultimate Oscillator: At 53.79, supports a bullish outlook but not in an overbought range.

Chart Patterns:

An Inside Candle Pattern was observed on 17-Sep-2024, with the stock trading within the range of the previous two days. This pattern may signal a potential breakout or consolidation.

Volatility:

The Average True Range (ATR) suggests moderate volatility, indicating potential for significant price swings.

In summary, SUNTV shows a generally bullish technical outlook, with the stock trading above its short-term moving averages and maintaining positive MACD and RSI readings. However, the weak ADX and the negative Awesome Oscillator suggest caution, as the stock may be consolidating or preparing for a breakout. Keep an eye on key support and resistance levels to gauge potential price movements.