ZEEL trade ideas
Zeel#ZEEL May post inline result as per chart. Zeel after fall consolidating in important support zone if stock brewak 382 level we can see upside toward 395-405 level and if Zeel breaks 360 level we can see downside toward 340-330.
ZEEL long Zeel is repeating the previous pattern smoothly and will continue to rally upwards for next few days. Hold it.
ZEE entertainment possible buy ?ZEEL has been in a downtrend following trend line. It is near to FEB'19 low. hopefully looking for a buy from 330 on support.
Earning data on 27 will be in key focus.
ZEEL The massive support lies at 430-440 zone. Below,it's headed to 415 where it will again find support. As the stock is not fundamentally poor and is going strong amid deals of sale, we believe it will not go below 415 in closing basis.
Long ZeelZeel has produced a fantastic quarter while the price action does not support this in the past few months due to ongoing proposed deal. But option writers can capitalize on this as the stock is bound to get immediate support at this price.
Selling 460 PE or 470 PE at 15 or 22.30 (markets closed)
Buying 480 CE or 490 Ce at 6.1 or 4
The hedging can be done by buying 420 PE by call writers
Resistance at 455-460 and 480-485 which is likely to be breached easily today. (470 is pseudo resistance)
Next resistance at 500-505 which is a 50:50 chance
Short in ZEEL on NSE (INDIA)This is weekly chart of ZEEL on NSE (INDIA) which indicates that the stock broke out the key resistance drawn on the chart. In the prior week, it again tested the key resistance in the prior week and shown a bearish candle in the last week. RSI is below 40 indicating poor momentum. It is also observed that price retraced to 38.2% on Fib before down trend resumed. It is emphasized that there is no divergence seen in price and momentum indicator (RSI). There are two targets that are shown on chart based on fibo extension considering the trading range break out from key support that turned into key resistance now as indicated on the chart. STOP LOSS is indicated on the chart (above high of prior bullish candle) which implies an excellent risk reward ratio.
Happy trading
ZEEL CRAB bullish forming . good entery near 400-410 area with support 380 closing basis , possible up side 500-620-700+
