Pick of the Series: SUN TV stock set to move on these 3 BIG triggers; Anil Singhvi reveals buying levels and target

Zee Business Managing Editor Anil Singhvi has suggested investors to buy the shares of Sun TV observing its growth potential. He has advised that the shares be purchased at around Rs 528-530 level.

Explaining the three big triggers because of which Sun TV is ready for an action-packed performance, the Market Guru said that according to the exit polls, DMK is showing a good lead in Tamil Nadu assembly elections and is also likely to form the government there.

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He added that the shares of Sun TV are considered to be politically sensitive as it is connected to DMK. This can be one of the reasons behind its actions.

The second reason is that Sun TV is the second stock after SAIL that gets  banned most of the time. In fact, it came out of the ban on Wednesday. The market expert said that before it re-enters the ban it is advised to buy the shares of the company.

PICK OF THE SERIES

किन 3 बड़े ट्रिगर्स के दम पर एक्शन दिखाने को तैयार है SUN TV?

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And the third reason to suggest this stock is its upcoming quarterly results. The Managing Editor said that media companies will register a remarkable result this quarter. Therefore, he has advised keeping a target of Rs 540-550 and for series, the target should be Rs 565. While the stop-loss can be around Rs 520.

He added that if the target of Rs 540 is achieved then the buyer should bring the stop-loss near their cost. Sun TV can show good action till Monday.

While discussing the performance of Sun TV in the last 5 weeks, market expert Sachin said that the stock has gained very good momentum. He said that the type of structure is there and that this momentum can be chased. He advised to keep a stop-loss around Rs 525 and gave a probable target of Rs 545-550.

The shares of Sun TV were trading at Rs 532.60, up 13.15 points or 2.53 percent on NSE at 1:46 pm. While on BSE it was at Rs 533.15 with a gain of 13.85 points or 2.67 percent.