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

Media 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 buy for a price target of Rs 1,610 and Rs 1680 in the near-term. CLICK HERE FOR DETAILED CHART

TV Today Network (TVTODAY): The overall trend seems promising if the counter manages to conquer Rs 320, daily charts suggest. A structural formation of 'Inverse Head and Shoulder' along with strong positive close supportive of decent volumes shows bigger rally in progress. After nearly one year, both RSI and MACD have managed to hold the upside range. The RSI has crossed reading of 60 and MACD trades above zero line. The immediate support comes at Rs 286, its 50 DMA. CLICK HERE FOR DETAILED CHART

Den Networks (DEN): Both the daily and weekly charts indicate a 'Double Bottom' formation. The stock gas started regaining volume from June almost after four months. Strong price action coupled with good volumes is a sign of bullishness. Technically, the counter is trading above 200-DMA with 50-DMA also rising upward. This can be followed by a rise in 100-DMA in the near-term. The 200-DMA is placed at Rs 65.70; 50-DMA and 100-DMA are located at Rs 60.85 and Rs 57.50 levels respectively, which are acting as supports. CLICK HERE FOR DETAILED CHART