Sun TV Network Limited (SUNTV) Stock - Complete Technical Analysis - Oct 24, 2024

Sun TV Network Technical Analysis: Is a Trend Reversal Coming

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. Sun TV Network Limited currently stands at 738.10, presenting a notable divergence from its 52-week high of 921.0 reached in August. Recent price action indicates a bearish sentiment, evidenced by the Doji and Spinning Top patterns, which signal market indecision. The stock's momentum is further confirmed by indicators like the MACD and Stochastic, indicating oversold conditions.

Support is visible at 732.05, while further down, we see potential support at 680.35. Resistance levels appear at recent highs of 749.75 and 755.50, making these critical points for traders to monitor. The last five trading sessions reveal increased volatility, with the Average True Range suggesting heightened price fluctuations.

As the ADX indicates a strengthening trend, traders should remain cautious, aware that the stock could face further declines if bearish momentum persists. Monitoring these key support and resistance levels will be crucial for traders looking to navigate the current market conditions effectively.