Nifty Media Outlook for the Week (Aug 17,2020 – Aug 21,2020)

If NIFTY MEDIA index breaches small assistance on the disadvantage and closes listed below it, we might see fresh break down and index can drag towards major assistance on lower side around 1320 and if breaches minor resistance on the advantage and closes above it, we might see fresh breakout and index can head towards greater levels around 1500.

ASSISTANCE 1.
1,342.

AWESOME MEDIA Index closed the week on favorable note gaining 63.85 points 4.78%.

RESISTANCE 2.
1,494.

Weekly High: 1,437.90.

Weekly Support & & Resistance For Nifty Media Index:.

AWESOME MEDIA index trading in parallel channel on day-to-day charts. Index formed turnaround after it face resistance at upper zone of formation. Index registered strong gain 2nd weak in raw. Index will likely to witness purchasing at lower levels.

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SUPPORT 2.
1,285

CLEVER MEDIA index trading in parallel channel on day-to-day charts. Index formed reversal after it face resistance at upper zone of formation. Index registered strong gain 2nd weak in raw. Index will likely to witness buying at lower levels.

Weekly Close: 1,399.85.

Currently NIFTY MEDIA index is trading below 200 days rapid moving typical and suggests long term pattern is bearish. EquityPandits analyst predicts variety for the week is seen from 1350 on disadvantage and 1475 on advantage.

Technically on the day-to-day charts we see small assistance on the disadvantage for NIFTY MEDIA index lies at 1360 levels, whereas small resistance on the advantage is capped around 1425-1445 levels.

RESISTANCE 1.
1,447.

For the Week: (Aug 17,2020– Aug 21,2020).

Weekly Low: 1,333.40.