NIFTYMEDIA @ 2160 LEVELS UPDATE
Long term chart of NIFTYMEDIA is very lethargic one. But short term chart showing some sings of bullishness.
As of now stock has formed multiple monthly bottom around 1630 spot levels and also took support at lower band of intermediate rising channel.
As long as NIFTYMEDIA is holding 1630 spot levels its short to medium term trend remains bullish and it can try to move upside towards 2630 and monthly close above 2630 it can move towards its ATH of 3675 spot levels.
ALL media stocks goes bearish if NIFTYMEDIA breaks 1630 spot levels but as long as its holding 1630 we can see some action in near terms in MEDIA stocks.
Stocks like ZEEL, SUNTV, DENNETWORK, TV18 ETC.
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