Signals, Powered By EquityPandit
NIFTY MEDIA Index closed the week on positive note gaining 19.85 points 1.10%.
Weekly High: 1,861.70
Weekly Low: 1,798
Weekly Close: 1,824.95
Weekly Support & Resistance For Nifty Media Index:
| RESISTANCE 2 | 1,891 |
| RESISTANCE 1 | 1,858 |
| SUPPORT 1 | 1,794 |
| SUPPORT 2 | 1,764 |
Technically on the daily charts we see minor support on the downside for NIFTY MEDIA index lies at 1795 levels, whereas minor resistance on the upside is capped around 1845-1860 levels.
If NIFTY MEDIA index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 1750 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 1900.
Currently NIFTY MEDIA index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 1775 on downside and 1875 on upside.
