Todays Pick

Zee Entertainment Enterprises (₹243.2): Buy

Yoganand D | | Updated on: Feb 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
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