Zeel is a high beta stock. In the past few sessions, few strong bullish candles have shown that buyers have entered the stock and are taking all the supply, in order to move the price higher. Various technical confluences have been taken into consideration, including breaking over previous pivot high, price respecting the 21 day exponential moving average(EMA), price sustaining and closing above the resistance. These all indicate the underlying bullishness in ZEEL. A certain aspect, which I think, should have been there, is the accumulation zone, or stage 1 of wyckoff. Accumulation zone is a very strong confirmation that strong players were absorbing the supply as the price came down and hence pushed the price up. Without an accumulation zone, price may retrace down. But as the price has sustained above the resistance in today's session, I am pretty confident in terms of this stock's bullishness. If volatility is on the higher side, then naked call can be done, but if volatility is relatively low then 150 CE can be bought and 170 CE sold. For futures or cash, I will enter on a 5 minute chart, with pullback strategy, wherein, I will wait for price to come back towards the ema, or near the resistance-turned-support or Fibonacci levels of 50% and 61.8%. The above strategy is my opinion and it doesn't mean that I suggest you to carry this trade without any risk management. Target of 165.9. SL according to risk management. This is an educational post and all the opinions provided above and on charts are simply speculation. Nothing is 100% in market. Consult your financial advisor before taking trades. I do not recommend taking trades according to my analysis as you may incur loss, for which I am not responsible. Trade carefully Grateful🙏
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Zeel has shown a tail on a 5 minute candle, which shows that the supply at 155 level has been absorbed. Buyers are present strongly in Zeel
Hi Sir......can u pls update on Zee I've at position @153.95
Pls advice .....Mny Thanks in advance
inteliigentrader
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@ManishAS96, Today's session didn't see any strength from buyers and sellers drove the price down, but the overall volume activity doesn't show strength of sellers yet, meaning, buyers have an opportunity to take prices higher. 2 important point: Price is near the fibonacci retracement levels of 50% and 61.8%, which is a strong buying zone, and a bullish confirmation, with volume can drive prices higher. But, there is a strong supply zone(seller zone) at the 155 level. Once this is breached, then price can head towards my target of 165. 155 is an important level to watch and buyers need to absorb the supply at that level.
ManishAS96
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@inteliigentrader, sir good morning
thankyou so much fr ur guidance n advice with ur analysis n explanation n by grace of god i booked a super profit in zeel
stay bless ......hv a gr8 trading day ahead sir
@inteliigentrader, Now you are my sir ji ji to the power infinity thanks sir for such information this stock creating such a huge hype and crosses all boundaries of past covid what about the upcoming trend??
inteliigentrader
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@deepanshupareek, Thanks a lot for your response. It means a lot to me! Which trend are you referring to-Zeel or the overall market? Nifty gave a breakout yesterday and US markets rebounded and closed above the pre Covid levels. Optimism is there in the market. 11500 can be achieved in Nifty, provided it stays above 11400 for couple of trading sessions. This would mean that buyers are able to keep the prices high and sellers are not strong enough to drive the prices low. Volume has been declining in the futures market, which is a sign that buyers are losing their strength and strong buyers are not present to drive Nifty higher. A correction or pullback is due in Nifty and expect it to come near 11000. Zeel has performed exceptionally well today. Volume has expanded with the price, showing strong players are present in Zeel. Strong supply is present near 208-210 levels and price might reverse from there. If buyers are strong enough, then they will absorb all the supply at the higher level and push prices as higher as 220-230. In short, for Nifty, volumes are not that great and I expect a pullback or retracement in the coming sessions. For Zeel, important level to watch is 208-210 and how price and volume react. High volumes and bullish candle will mean that strong buyers will push the price higher, but huge volumes and bearish candles is a sign of reversal. Also, low volumes and narrow candles are a sign of reversal Hope this helps you!
Pls advice .....Mny Thanks in advance