Nifty Media Outlook for the Week (Sept 21,2020 – Sept 25,2020)

COOL MEDIA index has actually formed ascending triangle pattern on day-to-day charts. If broader market continue its variety trading activity in coming days, we expect index likely to provide triangle breakout.

For the Week: (Sept 21,2020– Sept 25,2020).

RESISTANCE 1.
1,666.

If NIFTY MEDIA index breaches minor assistance on the downside and closes listed below it, we may see fresh break down and index can drag towards major assistance on lower side around 1550 and if breaches small resistance on the benefit and closes above it, we might see fresh breakout and index can head towards higher levels around 1750.

Weekly High: 1,1675.10.

Technically on the everyday charts we see minor assistance on the downside for NIFTY MEDIA index lies at 1600 levels, whereas minor resistance on the advantage is topped around 1660-1680 levels.

SUPPORT 1.
1,606.

Weekly Low: 1,615.05.

AWESOME MEDIA Index closed the week on positive note gaining 1.65 points 0.10%.

Weekly Support & & Resistance For Nifty Media Index:.

SUPPORT 2.
1,580

Currently NIFTY MEDIA index is trading above 200 days rapid moving average and recommends long term trend is bullish. EquityPandits expert anticipates variety for the week is seen from 1575 on disadvantage and 1750 on benefit.

RESISTANCE 2.
1,700.

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Weekly Close: 1,631.60.