Sun TV Network Limited (SUNTV) Stock - Complete Technical Analysis - Nov 08, 2024

Sun TV Network Limited Technical Analysis: Price Action, Support & Resistance Levels SUNTV Stock

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 (SUNTV) is currently experiencing some consolidation with the stock trading at 755.20, 18% below its 52-week high and 33% above its 52-week low. Price movement has been fluctuating within a tight range, indicating that the stock may be in a period of indecision. The Relative Strength Index (RSI) is at 44.64, which shows that the stock is neither overbought nor oversold, signaling that a clear trend may not be forming at the moment.

Looking at the key moving averages, the stock is slightly below the 10-day, 20-day, and 50-day EMAs but is still trading above the 200-day EMA. This suggests some short-term weakness, but a long-term uptrend is still intact. The Average Directional Index (ADX) of 24.58 tells us that the strength of the current trend is moderate, and we may need to wait for confirmation of either a breakout or breakdown. The Stochastic Oscillator is showing an overbought reading of 78.02, which hints at a potential pullback.

For support, watch the level around 730, which has been tested recently, and for resistance, the 50-day EMA at 770 will be critical. If the stock moves above 770, we could see a rise towards 800, while a break below 730 could push prices lower towards 695. As the MACD is in a negative position, caution is advised. Traders should watch for price action near these levels and consider waiting for a breakout confirmation before acting.