With news of Digitization stock was moving in an upward channel for almost a year. With recent correction in the market unlike other stocks, stock have corrected only to 23.6%. and found the support at channel bottom. Now stock is in convergence and may bounce back to previous highs.
Short Term:
Zee Entertainment is one stock which we have been trading as our favorite stock. Now again it is the time to go long on it. RSI positive divergence shows that stock will move upward. Buy the stock at current levels with strict SL at 215.5 for a target of 227/241 in shorter period.
Long Term:
Zee Entertainment is our portfolios from long term almost a year. Now it is time to add even more or people who do not participated in the rally can buy now at current levels to see an upmove from here on. Stock may see the higher levels and continue its move in upward channel. use channel bottom as the SL while stock is moving up.Stock may see 263/270 levels in coming one year. They way it was in a flat consolidation period, stock may move upward almost to 263/270 levels. Go long on the stock with long term view and add value to your portfolios.
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