PVR, TVToday, DEN Networks: Media stocks that can do well in the near-term

Trading strategies for media and entertainment stocks

PVR Ltd (PVR): The stocck is trading above the 200-weekly moving average (WMA) since 2012. It corrected in 2018, but has seen buying around its 200-WMA. Although the stock is trading above the 200-WMA placed at Rs 1,238 levels, one can look for opportunities considering this as a support level. While the the daily chart shows weakness, the other indicators are positive. The Relative Strength Index (RSI) has moved above oversold territory and MACD (Moving Average Convergence Divergence) is on the verge of crossover below zero line. Going ahead, if the stock stays sideways, or shows healthy correction, one can