Sun TV Network Limited (SUNTV) Stock - Complete Technical Analysis - Nov 19, 2024

Sun TV Network Technical Analysis Support, Resistance & Key Indicators November 2024 Update

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 seeing some mixed signals technically. The stock is currently priced at 740.60, which is 19.59% lower than its 52-week high of 921, signaling a pullback from the highs reached in August. On the other hand, the stock is up 30.48% from its 52-week low of 567.6, offering a potential for recovery from lower levels.

Looking at the technical indicators, the stocks RSI is currently 43.84, indicating it is not yet oversold but is also approaching lower levels. The MACD is negative, suggesting weak momentum, and the ADX is at 22.13, implying that there is a lack of strong directional movement in the stock. Stochastic indicators are in a neutral range, neither indicating overbought nor oversold conditions, which reinforces the idea of consolidation or range-bound movement.

In terms of moving averages, the stock is trading below its 50-day SMA, which is around 781.56, and also below the 100-day SMA. These levels might act as resistance in the near term. The support zone lies near 724, where the 200-day SMA aligns, offering significant downside protection.

From a pivot point perspective, the stock is holding at around 740, which is near the classic and Fibonacci support levels. If the price fails to break through these supports, it could be in for more consolidation, while a move above the recent highs near 754 could indicate a potential reversal to the upside.

With strong fundamentals and a solid ROCE, SUNTV remains a fundamentally strong stock, but traders should be cautious due to the current technical setup. Monitoring the price action around 724 and 754 will be crucial for identifying the next potential moves.