Sun TV Network Limited (SUNTV) Stock - Complete Technical Analysis - Sep 26, 2024

Sun TV Network Stock Analysis: Key Support & Resistance Levels Revealed

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 detailed technical analysis of Sun TV Network Limited, trading at approximately 835. The stock currently shows a P/E ratio of 17.9, a dividend yield of 2.01%, and solid fundamentals with a ROCE of 26% and ROE of 19.2%.

From a technical perspective, the Average Directional Index is low, indicating a lack of strong directional movement. The Relative Strength Index is hovering around the midpoint, suggesting a neutral stance, while the Stochastic indicator is approaching the overbought territory. The MACD is positive, indicating bullish momentum, which could provide support for further upside potential.

In terms of moving averages, both the Simple Moving Average and Exponential Moving Average indicate short-term bullish sentiment as the current price is above these averages. However, the stock is currently trading below the Classic Pivot point, suggesting it may face resistance near 836.

Support is found at approximately 807, as indicated by various pivot levels, while resistance can be observed around the 850 mark. With the stock trading about 9.5% below its 52-week high of 921, it is crucial for traders to monitor these levels closely.

The overall trend is bullish, but traders should be cautious due to potential volatility. Watching for a breakout above the resistance level could provide a solid entry point. Keep an eye on the momentum indicators, as a sustained increase could signal further upside potential.