Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Nifty Media has given a breakout on weekly time frame after 2019. The chart has crossed up 200 dma recently. Weekly time frame shows a hidde bullish divergence on weekly time frame. My view is bullish for medium term considering the indicators on weekly time frame.
Nifty media has an overall upward trend.
If we follow wave strategy, we see completion of 3rd wave and 4th wave seems to have started.
The support level for wave 4 has been given.
Wave 5th can take it to further higher levels and most of our media stocks short-term target could get achieved in 5th wave.
Disclaimer: This is a educational idea and not an investment...
Underlying stocks such as PVR and INOX are already started to move and has given around 20% and 30% returns in last month itself...Media is getting huge upside potential at low downside risk. I am just doubted that media will retest the setup or not...Starting to add low quantities in media would be good option. News are also flowing in market regarding opening of...
NIFTY Media is being traded in a channel pattern for past 1½ years and now it is trading near to the resistance. I do think there might be a good up move in Media scrips, so if there is a breakout then do have an eye on Media scrips.
Nifty Media is breaking it's support day by day, reason might be booming of OTT & all the media contents are available on YouTube and mainly because of Midcap fall. This doesn't look really good and it is indicating that this index will fall further more in the coming days.
