Zee Entertainment Enterprises Ltd (ZEEL) based on the chart and technical + fundamental indicators:
🧠Technical Analysis Overview Chart Timeframe: 30-minutes (Short-term focus)
🔹 Key Fibonacci Levels: 0% (Recent Swing High): ₹156.47
0.5 (50% Retracement): ₹143.62 (currently around this level — acting as pivot)
0.618 Fibonacci Support: ₹140.59 (strong retracement support zone)
🔹 Support & Resistance Levels: Immediate Resistance: ₹146.50 – ₹148 (near upper consolidation breakout)
Major Resistance: ₹151 – ₹156.50 (previous high & Fibonacci 0%)
Immediate Support: ₹140.50 (Fibonacci 61.8% support)
Major Support: ₹137.20 & ₹133.00 (previous swing lows)
🔹 Indicators: RSI: Recently bounced from near 30 (oversold) and now heading up — bullish divergence
Price Action: Consolidating in a rectangle pattern between ₹140–₹146 after a strong up move. This could be accumulation before a breakout.
🎯 Target & Stop Loss (Based on Technicals) Term Buy Zone Target(s) Stop Loss Short Term (1–7 days) ₹143 – ₹144.5 ₹148 / ₹151 ₹140.50 (strict) Medium Term (1–4 weeks) ₹143 – ₹145 ₹151 / ₹156.50 ₹137 Long Term (1–3 months) ₹140 – ₹145 ₹160+ (if breakout) ₹133
📊 Fundamental View (ZEEL) ✅ Positives: Merger Speculation: ZEEL and Sony merger news continues to impact sentiment.
Debt Levels: Managed debt comparatively well for a media firm.
Digital Strategy: Expanding in OTT & digital content, but with high competition.
⚠️ Concerns: Management Uncertainty: Some instability post-merger talks.
Revenue Volatility: Advertising revenues still fluctuating post-COVID.
📌 Summary: Short Term: Bullish bounce seen at key 61.8% support; buying near ₹143–144 may offer quick 3–5% upside.
Medium Term: If price breaks ₹148–151 resistance, it can rally towards ₹156.
Long Term: ₹160+ is possible if fundamental triggers (merger clarity, earnings) align.
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