Buyers with a brief time period view can promote the inventory of Zee Leisure Enterprises. Following a pointy rally in August, the inventory had encountered a key resistance at ₹225 in early September.
Subsequently, the inventory modified course triggered by damaging divergence within the each day relative energy index and the each day worth charge of change indicator.
Whereas trending down, the inventory had emphatically breached its 50- and 200-day transferring averages and trades properly beneath these transferring averages. After a minor corrective rally prior to now week, the inventory met with an important barrier at ₹185 and continued to pattern downwards.
On Monday, ZEEL plunged 4.9 per cent. The each day RSI has entered the bearish zone from the impartial area and the weekly RSI options within the impartial area.
The each day and the weekly worth charge of change indicators are hovering within the damaging territory. Targets are ₹169 and ₹166. Merchants can promote with a stop-loss at ₹181. (Observe: The suggestions are primarily based on technical evaluation. There’s a threat of loss in buying and selling.)