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Nifty Media Index Weekly Outlook and Analysis:

For the Week: (June 12, 2023 – June 16, 2023)

Nifty Media Outlook for the Week (May 22, 2023 – May 26, 2023)

NIFTY MEDIA Index closed the week on negative note losing 21 points 1.18%. 

Weekly High:  1,817.70

Weekly Low: 1,761.15

Weekly Range: 1,763.50

Weekly Support & Resistance For Nifty:

Technically on the daily charts we see minor support on the downside for NIFTY MEDIA index lies at 1,735 levels, whereas minor resistance on the upside is capped around 1,785-1,800 levels. 

If NIFTY MEDIA index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 1,700 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 1,835.

Currently NIFTY MEDIA index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 1,715 on downside and 1,815 on upside.