Zee failed upmove
Updated
Its a very volatile stock.
In the begining of the move zee was consolidating between 266 and 254.It broke down from 254 to 236 last week. It made good upmove from there. Today's judgement of zee should have helped it to sustain 254 but there is clear selling around 254 making it resistance.
Sell stl: 266
tgt 1 : 236
tgt2: 220
Disclaimer: I do not own the stock or options. This is outside of my risk profile.
Trade with caution.
In the begining of the move zee was consolidating between 266 and 254.It broke down from 254 to 236 last week. It made good upmove from there. Today's judgement of zee should have helped it to sustain 254 but there is clear selling around 254 making it resistance.
Sell stl: 266
tgt 1 : 236
tgt2: 220
Disclaimer: I do not own the stock or options. This is outside of my risk profile.
Trade with caution.
Note
It got Good support from 250 levels. If it goes above 258, it will get traction to move upwards, also trendline breaks above 258.hence
stop loss to be updated to 258.
This is for educational purpose
Note
Stop loss hit 258close trade
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