Comments
Long-term investors can buy the shares of Sun TV Network (₹752.60) at current levels. The stock has been in an uptrend since April 2020. This uptrend has gained momentum since April last year. The stock has seen a corrective fall now.
The share price touched a high of ₹921.60 in August this year and has fallen sharply. There is room for the stock to fall more within the current correction phase. However, supports are coming up, which can halt the fall and trigger a reversal. Strong supports are at ₹690 and ₹660, where the stock can find a bottom.
A fresh rise from the ₹690-₹660 region can take Sun TV Network share price up to ₹1,000-₹1,200 over the next one year.
From a multi-year perspective, for a three-to-five-year time frame, Sun TV Network’s share price has the potential to target ₹1,500 on the upside.
Long-term investors can buy Sun TV Network shares now at ₹752. Accumulate on dips at ₹705 and ₹680. Keep the stop-loss at ₹510. Trail the stop-loss up to ₹880 as soon as the stock goes up to ₹1,120. Move the stop-loss to ₹1,250 when the price touches ₹1,380. Exit the stock at ₹1,500.
Please note that investors will have to wait patiently for this rally to materialise. Also, intermediate correction can be considered to accumulate rather than exiting the stock in a hurry.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.