Sun TV Network Limited Stock Forecast
Sun TV Network Limited stock price up 1.93% on Friday
(Updated on May 10, 2024)
The Sun TV Network Limited stock price gained 1.93% on the last trading day (Friday, 10th May 2024), rising from ₹656.80 to ₹669.50. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.88% from a day low at ₹650.50 to a day high of ₹675.75. The price has fallen in 5 of the last 10 days but is still up by 0.76% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 192 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ₹1.80 billion.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹669.55 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.79% during the next 3 months and, with a 90% probability hold a price between ₹620.86 and ₹701.60 at the end of this 3-month period.
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SUNTV.NS Signals & Forecast
Mostly positive signals in the chart today. The Sun TV Network Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹653.76 and ₹622.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 5.67%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Sun TV Network Limited stock
Sun TV Network Limited finds support from accumulated volume at ₹664.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹25.25 between high and low, or 3.88%. For the last week, the stock has had daily average volatility of 3.76%.
Our recommended stop-loss: ₹645.44 (-3.59%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (SUNTV.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Sun TV Network Limited to open at ₹665.25, and during the day (based on 14 day Average True Range), to move between ₹649.54 and ₹689.46, which gives a possible trading interval of +/-₹19.96 (+/-2.98%) up or down from last closing price. If Sun TV Network Limited takes out the full calculated possible swing range there will be an estimated 5.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹664.45, some ₹5.05 (0.75%) from the current price of ₹669.50, our system finds the risk reward attractive.
Earnings coming up
Sun TV Network Limited will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is $11.87. We will update the financials statements for Sun TV Network Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.20% in the first trading day after earnings release.
Is Sun TV Network Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sun TV Network Limited stock to perform well in the short-term.
Current score: 4.913 Buy Candidate Unchanged
Predicted Opening Price for Sun TV Network Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹665.25 ( 0.635%) | ₹669.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUNTV.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 690.50 | 3.14 % | |
| R2 | 680.85 | 1.70 % | ||
| R1 | 674.90 | 0.81 % | ||
| Current price: | 669.50 | |||
| Support | S1 | 655.60 | -2.08 % | |
| S2 | 649.65 | -2.97 % | ||
| S3 | 640.00 | -4.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 669.50 | |||
| Support | S1 | 664.45 | -0.754% | |
| S2 | 656.80 | -1.90% | ||
| S3 | 630.70 | -5.80% |
SUNTV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 08, 2024 | Apr 08, 2024 | Apr 27, 2024 | ₹3.00 | 0.452% |
| 2 | Feb 23, 2024 | Feb 23, 2024 | Mar 15, 2024 | ₹2.50 | 0.424% |
| 3 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | ₹5.00 | 0.755% |
| 4 | Mar 21, 2023 | Mar 21, 2023 | Mar 21, 2023 | ₹2.50 | 0.582% |
| 5 | Feb 13, 2023 | Feb 13, 2023 | Feb 13, 2023 | ₹3.75 | 0.84% |
FAQ
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