Comments
The short-term outlook is bullish for Zee Entertainment Enterprises Ltd (ZEEL). The stock surged 6 per cent on Tuesday. This sharp rise has happened from around the 200-Day Moving Average (MA) support. The 200-Day MA currently at ₹222 will now act as a good support and limit the downside. The cross over between the 21- and 100-Day MA also strengthens the bullish case for the stock. Resistance is at ₹255.
We expect the stock to break this hurdle. Such a break can take ZEEL share price up to ₹280 over the next three-four weeks. Traders can go long now. Accumulate on dips at ₹225. Trail the stop-loss up to ₹241 as soon as the stock moves up to ₹248. Move the stop-loss further up to ₹256 when the price touches ₹265. Exit the long positions at ₹275.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.