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Nifty Media eyes BIG breakout: Den, Network18 up 9% today; what lies ahead?
Nifty Media index seen testing the 200-DMA hurdle after December 2024; that apart the index eyes breakout on the weekly scale as well. Here's a technical outlook on the index and 3 key media stocks.
Rex Cano Mumbai
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The Nifty Media index has surged over 27 per cent in the last four months and is now seen testing the 200-Day Moving Average (200-DMA) resistance on the daily chart since the breakdown in mid-December 2024. The Nifty Media 200-DMA stands at 1,764. That apart, the Media index is also attempting a significant breakout on the weekly scale as it tests hurdle at the super trend line. A weekly close above 1,745 shall confirm the breakout. On Wednesday thus far, the Nifty Media index was 1.8 per cent. Among media shares - Network18 zoomed 10 per cent, Hathway
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Nifty Media eyes BIG breakout: Den, Network18 up 9% today; what lies ahead?
Nifty Media index seen testing the 200-DMA hurdle after December 2024; that apart the index eyes breakout on the weekly scale as well. Here's a technical outlook on the index and 3 key media stocks. Rex Cano Mumbai Listen to This Article The Nifty Media index has surged over 27 per cent in the last four months and is now seen testing the 200-Day Moving Average (200-DMA) resistance on the daily chart since the breakdown in mid-December 2024. The Nifty Media 200-DMA stands at 1,764. That apart, the Media index is also attempting a significant breakout on the weekly scale as it tests hurdle at the super trend line. A weekly close above 1,745 shall confirm the breakout. On Wednesday thus far, the Nifty Media index was 1.8 per cent. Among media shares - Network18 zoomed 10 per cent, Hathway
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