Sun TV Network Limited (SUNTV) Stock - Complete Technical Analysis - Dec 16, 2024

Sun TV Stock Technical Analysis Support & Resistance Levels NSE Stock Review Partha Kuchana Fin

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 trading around 722.95, marking a drop of about 21.5% from its 52-week high of 921, which occurred in August. Recently, the stock has been fluctuating between 711 and 725, indicating possible support at 715 and resistance at 750. The stock is in a weak trend, as shown by the RSI reading below 40, indicating potential for oversold conditions. The MACD is also negative, suggesting bearish momentum. The ADX level at 18.55 implies weak directional movement, so traders should be cautious. Volatility is relatively high, as indicated by the ATR, so there could be some significant price movements in the short term. If the price breaks the support at 715, the next level of interest would be around 673. Conversely, if it moves back above 750, this could signal a possible reversal. Pay attention to the exponential moving averages as they are showing downtrend resistance levels. For traders considering a position, keeping an eye on these technical levels will be key in understanding the short-term movement.