The Nifty Media index has surged over 27 per cent in the last four months and is now seen testing the 200-Day Moving Average (200-DMA) resistance on the daily chart since the breakdown in mid-December 2024. The Nifty Media 200-DMA stands at 1,764.
That apart, the Media index is also attempting a significant breakout on the weekly scale as it tests hurdle at the super trend line. A weekly close above 1,745 shall confirm the breakout.
On Wednesday thus far, the Nifty Media index was 1.8 per cent. Among media shares - Network18 zoomed 10 per cent, Hathway Cable, Den Networks soared up to 8 per cent. Zee Entertainment, Tips Music, PVRInox and Saregama were up in the range of 1-2 per cent today.
Track LIVE Stock Market Updates Despite the 27 per cent surge, the Nifty Media index remains a notable laggard on the bourses thus far in the year 2025. The index has declined 4 per cent as against a 6 per cent rally in the NSE benchmark - Nifty 50 index.
ALSO READ | 5 microcap stock ideas for potential mega returns as per tech charts Will a potential breakout, help the Nifty Media index catch-up with the benchmark or will the current rally falter? Here's what the technical charts say.
Nifty Media index
Current Level: 1,744
Upside Potential: 13%
Downside Risk: 9.4%
Support: 1,720; 1,665; 1,630
Resistance: 1,800; 1,870; 1,900
Technical chart suggests that the short-term bias for the
Nifty Media index is likely to remain favourable as long as the index sustains above 1,665 levels.
CLICK HERE FOR THE CHART On the positive front, a breakout above the 200-DMA and the weekly hurdle shall open the doors for a likely rally towards the 100-Week Moving Average (100-WMA), which stands at 1,970 levels - this implies a potential upside of 13 per cent from present levels. Intermediate resistance for the Nifty Media index can be anticipated around 1,800, 1,870 and 1,900 levels.
On the flip side, in case, the Nifty Media fails to conquer the hurdles and slip back below the key support level at 1,665; the index could then potentially slide towards 1,580 levels - wherein hovers the 100-DMA. Near support for the index stands at 1,720; while far-off support is seen around 1,630 levels.
Zee Entertainment Enterprises
Current Price: ₹146
Upside Potential: 20.3%
Support: ₹134; ₹125
Resistance: ₹165
Zee Entertainment stock is seen trading with a favourable bias since March 2025. Recently, the stock witnessed formation of a 'Golden Crossover' on the daily chart. That apart, the stock is also seen trading above its 20-Month Moving Average (20-MMA) after 16 months.
CLICK HERE FOR THE CHART Going ahead, Zee stock seems on course to target ₹175.65 levels, with interim resistance likely around its 100-Week Moving Average (100-WMA), which stands around ₹165 levels. The near-term bias is likely to remain positive as long as the stock holds above ₹134 and ₹125 support levels.
ALSO READ | ZEEL stock trades above its 20-MMA after 16 months; what lies ahead?
Network18 Media & Investments
Current Price: ₹58.80
Upside Potential: 24.2%
Support: ₹54.70; ₹50.70
Resistance: ₹62.18; ₹66.35
Network18 stock has zoomed over 9 per cent to ₹58.80 levels in intra-day trades on Wednesday. In the process, the stock is seen attempting a breakout on the daily chart; a close above ₹58 today shall confirm the same.
CLICK HERE FOR THE CHART On the upside, Network18 stock can charge towards its 200-DMA, which stands at ₹62.18; breakout above the same can trigger a rally towards 200-WMA, which stands at ₹73 levels. Interim resistance can be anticipated around ₹66.35.
The bias at the counter is likely to remain favourable as long as the stock holds above ₹54.70 and ₹50.70 levels.
Den Networks
Current Price: ₹37.85
Upside Potential: 24.7%
Support: ₹36.38; ₹34.18
Resistance: ₹39.30; ₹40.23; ₹42.05; ₹42.50
Den Networks share has rallied over 7 per cent in Wednesday's intra-day trades. The stock is likely to trade with a positive bias as long as it holds above ₹36.38 and ₹34.18 support levels.
CLICK HERE FOR THE CHART On the upside, the stock may face stiff resistance in the ₹39.20 - ₹40.23 zone. Breakout and sustained trade above the same can potentially trigger a surge towards ₹47.20 levels, with intermediate resistance seen at ₹42.05 and ₹42.50 levels.
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