F&O buzzers : Sun TV Network Ltd achieved 525-558 targets

Sun TV Network Ltd future chart Sun TV Network Ltd stock today closed at 558.9 with gain of 6.6%. Stock in October series opened with breakout above 486 resistance and from then we saw one side move. On upside 525 was first resistance as well as target and then 558 was next target.   We saw SUNTV stock achieved first target on first day of series and today with strong 6% plus move stock hit its target of 558. Above 558, next resistances as well as target zones are 595 and 630. Today closed just above resistance on strong volumes.   Technically stock price in rally while daily chart indicators suggesting rally might continue ahead. So traders can buy stock around 550-555 with stoploss below 540 for target 595 and then 630.   Future traders can buy stock around same price band with stoploss 535 for targets 600 and 630. Option traders for October series can use buy on decline strategy for SUNTV 550 call options.   SUNTV stock weekly chart suggesting fresh rally for new high. Last time we saw sharp and one side rally from 350 to now at 550!! Long term targets for this rally comes at 765.

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Pramod Baviskar

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