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The outlook is bullish for Sun TV Network. The stock has been in a strong uptrend since April this year. The 2.8 per cent on Thursday indicates that the upmove is gaining momentum. Moving Average cross over on the weekly chart also strengthens the bullish case for the stock. It indicates that the downside could be limited. As such any intermediate dips could be short-lived. Immediate support for the stock is at ₹629.
Sun TV Network share price can rise to ₹670 over the next two-three weeks. Traders can go long now. Accumulate on dips at ₹632. Keep the stop-loss at ₹624. Trail the stop-loss up to ₹645 as soon as the stock moves up to ₹652. Move the stop-loss further up to ₹653 when Sun TV Network share price touches ₹658. Exit the long positions at ₹665.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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