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Published on 22/04/2019 9:47:14 AM | Source: Religare Securities Ltd

Sell Zee Entertainment Enterprises Ltd For The Target Rs.385 - Religare Sec

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Zee Entertainment Enterprises Limited (ZEEL)

We’ve been witnessing mixed trend in the media space and ZEEL has been trading with negative bias for last ten months. Though it had sharp rebound in between but couldn’t surpass the hurdle of long term averages and resumed the decline. Today i.e. on April 18, it has witnessed a fresh fall indicating negative trend to extend. We suggest using any technical bounce to go short in the given range.

 

Recommendation

Sell FUTS Zee Entertainment Enterprises Ltd @408-412 Stoploss 420 Target 385 CMP 403.35

 

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