Why ZEEL is up by 20% ?

Why ZEEL is up by 20% ?

Stock that made buzz on Dalal street today is ZEEL (Zee Entertainment Enterprise Limited)! If you are tracking the markets then you must have heard and wondering about how it moved 20% up today when Indices were trading lower. So what happened ?

So as per the reports from Invesco Developing Markets Fund, Zee Entertainment Enterprises’ largest shareholder, it had decided not to pursue an extraordinary general meeting (EGM) to add six independent directors as Zee’s merger with Sony will achieve the fund’s aim of strengthening board oversight.

Okay, so this is the one reason of stock moving higher based on News but lets checkout stock’s Daily chart to understand Technical part of it :

So as we can see on the charts stock was trading lower with trendline resistance above at 250 Levels, Before today’s breakout it consolidated for couple of days in 240-260 range. Today was the day when it broke the higher resistance supported by high volume. It opened and traded above the opening levels throughout the day, giving good opportunity for the trade.

Did you take the trade or missed it ? Streetgains did recommended it in Stock Options : ZEEL 280 CE @ 17 and Booked profits at 25!

Join StrretGains by visiting this link for more such calls to be part of profitable trades : https://streetgains.in/Subscribe/

Checkout our performance of Options trades :

Disclaimer: The views are in line with the pure chart study, no pre-defined geopolitical factors are considered. Also, we strictly advise not to take any positions just based on the above views. For regular intraday recommendations, you must have our premium subscription.

Leave a Reply

Your email address will not be published. Required fields are marked *