Todays Pick

Zee Entertainment Enterprises (₹243.2): Buy

Yoganand D BL Research Bureau | Updated on February 02, 2021

Zee Entertainment (ZEEL) has been in an intermediate-term uptrend since it took support at ₹135 in August 2020. After breaching a key resistance at ₹220 in mid-December 2020, the stock started to move sideways in a wide band between ₹212 and ₹235.

On Tuesday, the stock jumped 7 per cent, accompanied by good volume, breaking above a key resistance as well as the upper boundary of the sideways movement at ₹235. The short-term outlook is bullish for ZEL. It can reach the price targets of ₹253 and ₹258. Traders can buy the stock with a stop-loss at ₹238.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Published on February 03, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor