š±šŗ Indian Media and Entertainment Industry Coverage šŗš±
š In India, the media and entertainment industry is divided into several segments, including television, print, and film. With over 850 TV channels and 17,000 newspapers, India has one of the most diverse media industries. With a population of 130 million, 89 % household television penetration, 72.3 million internet subscribers, and nearly 40 million smartphone users, India's telecom industry is poised to become the primary platform for content distribution and consumption.
š± What's changing positively for Media Sector š±
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India's per capita income will rise in the future, and the media will benefit the most because people will have more disposable income.
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The fast-growing mobile environment in India will help the media and entertainment companies to reach a much larger market.
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Previously, media companies relied on distributors or resellers to reach their end customers, but with the advent of digitalization, the need for the intermediary has vanished, and media companies can now reap the full benefits of their customers.
š Technical Analysis š
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For more than two years, the index has been following a trendline and has recently taken support from it. It has bounced back strongly from this trendline in the past.
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On weekly charts, it has also tested its 100 EMA and is facing resistance at the 50 EMA.
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For a long time, all of the index's major stocks, such as Zeel, SunTV, and PVR, have been corrected and consolidated. And they are forming bottoms in accordance with their current chart structures, which implies that there are good chances that these stocks can bounce back in near future.
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One can buy fundamentally strong media stocks at these levels.
ā ļø ā ļø Any weekly closing below 1880 will open more downside possibilities for the index
š Stocks to look for in Nifty Media:
1. Zee Limited
2. SunTV
3. PVR
4. Inox Leisure
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