No Hopes for Zee Entertainment, It's Sell On Rise with TP Rs 13?Since, 2008 a decade long bull run all time high was 619 in Jan 2018.
After that reversal and give up all its gain in covid crash March 2020.
It was almost down 80%.
Covid stimulus rally & the Big Bull Entry before Sony merger news lasted in Dec 2022.
Now, merger deal out of table.
What Next?
Is there any news flow being planned to bounce back?
Or just it is going to become a next penny stock in this media competition era?
Chart is to show a negative forecast depended on current news flow.
It’s Sell on Rise with Target 13.55.
Disclaimer: Analysis & View are personal and educational purposes only. Trade at your own risk. We recommend consult your financial advisors and do your own analysis before taking any trade. Profit and Losses are subject to your own risk management and constantly changing market conditions.
Sonymerger
ZeelNSE:ZEEL1!
Running news of merger with sony .chart have breakaway gaps with highest volume with previous weekly trendline and triangle breakout.
now again forming triangle on weekly trendline support area ,breakaway gap area with bullish butterfly, also having support of monthly inside candlestick low, and divergence on daily chart
Buy Zeel above 226.4 add more 218.80 with two days candle closing stop loss of below 200 target will 236.9-247-274-287++(short term )
mid term buy Zeel @ 226-216 two days closing stop loss below 200 target 287- 364-412
long term buy Zeel @ 226-216 weekly closing sl below 199 target 364-562
BOLO JAI GAJANAND