This analyst is bullish on Media, Defence; recommends these 2 stocks

Kunal Kamble of Bonanza expects Media and Defence sectors to continue outperformance, and Network 18 Media and Cochin Shipyard are his top 2 picks.

Sector Outlook: Nifty Media & Nifty Defence Likely to Outperform in the Coming Weeks 

Nifty Media – Bullish Breakout Signals Upside Potential

  Nifty Media has recently broken out above a key resistance level and shows potential for further upside towards 1,740, followed by 1,870. The index is trading comfortably above both the 50 EMA (Fast) and 200 EMA (Slow), reinforcing its bullish trend. 

Stock in Focus: Network 18 Media

  Network 18 Media is showing an attractive setup above ₹50, with an upside potential towards ₹54–₹56, provided it sustains above the support level of ₹48. The stock has formed a classic Adam and Eve breakout pattern, with the neckline at ₹49.90. A breakout above this level, supported by increasing volumes, indicates strong buying interest. 

Recommendation

  Buy at: ₹50  Stop Loss: ₹48  Target Price: ₹54–₹56 

Nifty Defence – Still Has Fuel Left for Higher Levels

  Nifty Defence still has fuel left in the tank and shows potential to move higher towards 9,500 levels. The recent retracement to the 21-EMA, followed by a strong bounce, suggests that this level will act as a key support going forward. 

Stock in Focus: Cochin Shipyard

  Cochin Shipyard recently broke out of an Eve pattern, and a successful throwback to the neckline is offering a fresh buying opportunity with a favorable risk-reward setup. The stock is trading above all major EMAs, indicating a strong bullish structure. Momentum indicators further support this view:  RSI remains in the bullish zone, highlighting positive momentum. Directional Index (DI+) is above (DI-), and a rising Average Directional Index (ADX) confirms strength in the ongoing uptrend. 

Recommendation

  Buy Range: ₹1,884–₹1,890  Stop Loss: ₹1,680  Target Price: ₹2,200–₹2,500  (Disclaimer: This article is by Kunal Kamble, Sr. Technical Research Analyst at Bonanza. Views expressed are his own.)