Sun TV has target of Rs 240-245: Mathew

(My Original Blog Post: http://www.onlineequitycalls.com/2008/12/sun-tv-has-target-of-rs-240-245-mathew/)
Technical Analyst, E Mathew feels that after a little bit of consolidation, Sun TV Network is able to breakout above this congestion zone of Rs 173-175 possibly you could have here an excellent trading opportunity, which could give you as high a price target of around Rs 240-245.

"Sun TV is a great favourite amongst the southerners; there is no doubt about that inspite of the problems between Maran sons and the powers that be. But what I would like to see is though we have seen a very handsome move we are heading into resistance zone of Rs 173-175 is stiff resistance in my opinion and we are almost there. If after a little bit of consolidation, this stock is able to breakout above this congestion zone of Rs 173-175 possibly you could have here an excellent trading opportunity, which could give you as high a price target of around Rs 240-245, which in this market where people are consistently losing money, this could possibly one of the better trading bets."

Source : MoneyControl