ZEEL: Potential Multibagger Trade
Updated
A 3 year long trendline has been broken in Zee Entertainment Enterprises Ltd. (
ZEEL)(ZEEL and we have a potential multibagger trade on our hands.
The stock has been facing resistance from the trendline since April 2018 i.e. 3+ years and has broken this in the past few weeks.
It is currently at a very crucial level and a breakout from this level will give us a medium and long term trade with potential returns of 200+%.
Important levels:
Entry rs 235-237
Target 1 rs 260
Target 2 rs 310
Target 3 rs 353
Target 4 rs 407
Target 5 rs 497
Trade duration - 2 to 24 months
Note:
1. Before the final breakout the price may fall back and take support from the trendline below. Keeping this in mind, take position at the entry level with only 50% capital and wait for a retest for deployment of the complete capital.
2. Safe traders can wait for the weekly candle to close above Rs 236 to avoid a fake breakout. However, they may lose out on the first target.
ZEEL)(ZEEL and we have a potential multibagger trade on our hands.The stock has been facing resistance from the trendline since April 2018 i.e. 3+ years and has broken this in the past few weeks.
It is currently at a very crucial level and a breakout from this level will give us a medium and long term trade with potential returns of 200+%.
Important levels:
Entry rs 235-237
Target 1 rs 260
Target 2 rs 310
Target 3 rs 353
Target 4 rs 407
Target 5 rs 497
Trade duration - 2 to 24 months
Note:
1. Before the final breakout the price may fall back and take support from the trendline below. Keeping this in mind, take position at the entry level with only 50% capital and wait for a retest for deployment of the complete capital.
2. Safe traders can wait for the weekly candle to close above Rs 236 to avoid a fake breakout. However, they may lose out on the first target.
Order cancelled
Entry not achieved, support trendline broken
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