ZEEL or no ZEAL? Zee Entertainment has been a very old trading stock of punters. Since the Sony debacle, this stock has been re-rated negatively. The governance issues are being sighted as a cause for the continuous selling. Domestic mutual fund houses have reduced positions by almost 3.3 percent in last quarter. The number of Foreign institutions holding it has also reduced. It looks cheap when you see the chart and its high and lows. But beware! Even at this low price, it has a PE which is at par of its competition. Reliance-Disney deal has also dealt a big blow.
Technically it has made a double bottom . The resistance lines are marked in chart for your reference. Keep it in your watchlist. A small bounce is also likely. This can be used as a trading opportunity. But for long term, the trend needs to be reversed before taking any positions.
This is not a buy/sell recommendation.
This post is only for educational purpose.
Kindly consult your financial advisor before investing.
Keep strict stoploss and money management rules.
Happy Trading!!
