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Published on 22/07/2019 4:27:44 PM | Source: Choice Broking Pvt Ltd

Buy Zee Entertainment Enterprises Ltd For Target Rs.392.30 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Zee Entertainment Enterprises Ltd #Entertainment #Trading Report #Choice Broking

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* On a daily chart, the stock has been given a breakout of its Upper Band of Symmetrical Triangle formation which indicates a robust upside movement in the counter.

* Moreover, the stock has been trading above its 21 Days Moving Average which suggests a positive rhythm in the counter.

* On an hourly chart, the stock is on a verge to give a breakout of its Upper Band of Rising Wedge formation which even indicates a northward movement in the counter.

* A daily momentum indicator RSI reading is at 57.05 level with a positive crossover which points out for positive breath in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in a few trading sessions.

Recommendation

Buy Zee Entertainment Enterprises Ltd @360.25-362.10 Stoploss 347 Target 392.30

 

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