SUNTV : Reversal from Golden Retracement Zone SUN TV Network
Wave Analysis:
Prices have corrected to the golden retracement zone (712-698 INR), a strong potential reversal area.
The stock recently saw a CHOCH (Change of Character) near 768 INR, indicating bearish rejection at higher levels.
Key Observations:
Liquidity Zone: Prior liquidity was swept between 712-698 INR, signaling accumulation.
Active Buy Zone: 719-735 INR remains a key accumulation area for buyers.
Trading Plan:
Entry:
Primary entry between 719-735 INR.
Secondary entry near 712 INR for deeper retracement.
Stop-Loss: Place stop-loss below 690 INR.
Target Levels:
First target: 830 INR (minor resistance).
Final target: 871-894 INR (completion of Wave C correction).
Indicators to Monitor:
Watch for bullish price action near 719-735 INR.
ChOCH breakout for early entry signals.
Disclaimer: This analysis is for educational purposes only. I am not a SEBI-registered analyst. Please do your own research or consult a financial advisor before trading.
