Anmolshukla

ZEEL: Potential Multibagger Trade

Long
NSE:ZEEL   ZEE ENTERTAIN ENT
A 3 year long trendline has been broken in Zee Entertainment Enterprises Ltd. ( NSE:ZEEL )( BSE: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