ZEEL is about to break the triangle and should move towards 200 EMA and 0.236% of Fib Retracement
RSI moving upward
Price making Higher Lows
Entry= CMP
Target = 465
SL= 445 (around today's low)
Only Educational Purpose
ABCD Diamond formation on ZEEL and price may fall from 0.236 to 0.382 fibo level.
Trade:
Short below - 458
Target - 453
Stop Loss - 461
Reward Points - 5
Risk Points - 3
Zee Entertainment has been trading in bearish channel and now it seems to be in consolidation mode and not looking strong enough to touch the resistance, it may see further down side to the next support 78% fibo level (400) in near term. traders may enter short Zeel with a target of 400.
Zee Entertainment has been trading as per my previous analysis, and further continue analysis, it has been approaching the channel resistance gradually and targeting 471 which is not much far, trader may enter long up to target of 471 and look for short with a target of 440, it advisable to watch breakout upside cautiously as it has already bounced back from 61%...
Price have danced beautifully on the handle of the pitchfork therefore it may guide further for the future price action. One may go long at this level with stop loss just below the low made recently for an immediate target of 490 and those who have patience can continue the trade till 540 with trailing stop loss.
Zee Entertainment has been trading in bearish trend and trading in a channel respecting support and resistance.it closed on crucial 61% of fibo level and is on confluence level. we may see upside movement from here up the channel resistance somewhere between 478-480 in near term, traders may enter long on this stock at slight lower price when it retest the support...
Zee Entertainment Ltd. broken its long up trend journey at 520 and retested this level several days to move upward direction but has been unable to confirm breakout,it has also formed a bearish flag pattern and we may see the target of this stock around 440.00 to its long term support. trader may go short from this level or wait for till slight upward around...
It is been observed on the daily chart that the price action breaks below 470 support levels indicating bears dominance and now it shall further down towards next support levels at 442-438 levels.
Target: 442
SL: 480
Beautiful Pole has been formed and a flag is in making. If it gives breakout and closes out of Flag boundaries only then the trade should be initiated but one can put the stock in watch list and prepare for the trade. Clearly on the last day of the pole the volume was the highest and so should be on the day of breakout for a good Flag pattern formation. Good Luck
