[Positional] Suntv Analysis on D frame Bounce Theory

As per the charts. Do not buy unless it triggers.

Kommentera:

SunTV is also in downtrend.

The bounce chart is drawn in a similar manner we did for Siemens analysis. But, We can see it has made a higher low instead of lower low which signifies weakness in the downtrend. Also, Suntv has formed Inside Bar in its last trading day.

But if we see the weekly chart, the trend line shows it is at the lower range of a sideways trend. So, We shall be skipping the bet on the downside movement.

Kommentera:

Not triggered :)