SC relief fails to cheer multiplex stocks; PVR, Inox trend may turn bearish

PVR and Inox Leisure stocks must defend key levels to avoid turning bearish, show technical charts

Shares of multiplex chains slipped in red on Thursday, even after the Supreme Court (SC) granted a big relief to multiplex owners, stating they have the right to prohibit carrying outside food as they are the property owners and deserve rights to set terms. 

The SC verdict came in favour of multiplex companies, which inevitably should have reflected in the positive share movement. On Thursday, shares of PVR and Inox Leisure fell 1.15 per cent and 0.90 per cent, respectively. Over the last couple of months, shares of multiplexes chains have traded sideways. 

Meanwhile, the merger announced between PVR and