Stay long on Sun TV with stop loss of Rs 380: Vinith Jain

ET Now spoke to Vinith Jain, Director, Siddh Capital, on his views on the market.

ET Now: 480 is target coming in from one of the brokerage houses on Sun TV. What is your view on it?

Vinith Jain: The stock has been facing a resistance at 450-460 levels. Quite many times on the weekly charts, you see many tops forming around that level.

The recent dip which came up to 385 seems to be of a corrective pattern and probably, that is a good chance that the corrective downtrend has got over on that stock and we might see a pullback again to 455-460 levels. One might keep the stock on hold if he has already bought it and with a stop loss of 380, can stay long.