May 18, 2016

SUN TV Exit poll News Reaction and Targets

  • Its been a long time since i posted analysis on individual stock. I was seeing the exit poll results of Tamil Nadu and the reaction of sun tv. Price near the month resistance line so thought of doing a post on this one.
  • SUN Tv had a big up move yesterday following the exit poll news which predicted a possible win for DMK. A Trader should take it as a reaction to rumour Once the real results are out bigger moves are possible. One look at the Month chart shows price near a crucial falling resistance line. If the News is good for SUN this resistance line is likely to be taken out for a move towards 500 Levels. If the News is bad then price may fall back to 300 Levels.
  • For today the resistance is at 436. If this levels is taken out then price will test the monthly resistance line.

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