In such a great market Media has Shown Terrible Performance.
Reasons
Both Weekly and Monthly Charts showing weakness and Support Region on Weekly is still far.
One can see further correction in these stocks.
Do not catch this falling knife and wait before you try to invest huge in any of these
My Favourite Stocks here are;
Zee Entertainment
Sun TV ...
this is the sector as always..
becoze they made & nd ll make in future for you..
For more query comment below..
i ll happy to see your view, comment and feedback
And follow for such more analysis ....
Media sector has seen breakout EOD chart with price closing above all time high
Going forward till 3000-3200 holds expect upside upto 3370-3510-3680 levels in short to medium term
With price trading above key moving averages will add to further strength
weekly
https://in.tradingview.com/x/9KtoCgyp/
nifty media index was in rectangle formation, breakout is seen on charts.
top constituents by weightage :-
1)zeel- 49%(major )
if index has to reach its rectangle breakout target then zeel has to participate .
we expect zeel to hit 600 plus targets in November series as per chart setup
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