A 3 year long trendline has been broken in Zee Entertainment Enterprises Ltd. (
ZEEL)(ZEEL and we have a potential multibagger trade on our hands.
The stock has been facing resistance from the trendline since April 2018 i.e. 3+ years and has broken this in the past few weeks.
It is currently at a very crucial level and a breakout from this level will give us a medium and long term trade with potential returns of 200+%.
Important levels:
Entry rs 235-237
Target 1 rs 260
Target 2 rs 310
Target 3 rs 353
Target 4 rs 407
Target 5 rs 497
Trade duration - 2 to 24 months
Note:
1. Before the final breakout the price may fall back and take support from the trendline below. Keeping this in mind, take position at the entry level with only 50% capital and wait for a retest for deployment of the complete capital.
2. Safe traders can wait for the weekly candle to close above Rs 236 to avoid a fake breakout. However, they may lose out on the first target.
ZEEL)(ZEEL and we have a potential multibagger trade on our hands.The stock has been facing resistance from the trendline since April 2018 i.e. 3+ years and has broken this in the past few weeks.
It is currently at a very crucial level and a breakout from this level will give us a medium and long term trade with potential returns of 200+%.
Important levels:
Entry rs 235-237
Target 1 rs 260
Target 2 rs 310
Target 3 rs 353
Target 4 rs 407
Target 5 rs 497
Trade duration - 2 to 24 months
Note:
1. Before the final breakout the price may fall back and take support from the trendline below. Keeping this in mind, take position at the entry level with only 50% capital and wait for a retest for deployment of the complete capital.
2. Safe traders can wait for the weekly candle to close above Rs 236 to avoid a fake breakout. However, they may lose out on the first target.
Pesanan dibatalkan
Entry not achieved, support trendline broken
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.