A TECHNICAL UPDATE ON ZEE LTD-26.7.2024

 

ZEE LTD

SECTOR: -- T.V.Broadcasting & Software Production.

All-Time High:--685.42 made on 23.2.2000.

                                   All-Time Low: -- 2.92 made 5.12.1996.

                                   Recent Low:-114 made on 25.3.2020. 

Open-136.70--High-143.25--Low-135.70—Close-140.01 on 25.7.2024. 

Support: 134.65/129.25/125.50/119.05/114/105.55/78/44. 

Resistance:145.90/148.10/152.65/157.25/160.20/164.40/168.70/177.20/205.25/209.70/225/237/242.15/248.15/264---. 

TTM EPS- 1.47(+195.60% Y. O. Y)

TTM/PE--92.99/ SECTOR PE-34. 88

BOOK VALUE-105. 09

PRICE TO BOOK VALUE:--1.30.

DIVIDED YIELD:-0.73%

FACE VALUE:-1/-

EQUITY:-96.06 cr

SHARE HOLDING:- PROMOTERS-4%, FII--18.90%, DII--22.50% & PUBLIC--54.60% (promoters stake is very low). 

FINANCIAL VIEW: -- It looks overpriced at this point of time and running at a very high PE. 

TECHNICAL VIEW:-

It is very weak on technical footing now and it may take a very long time to get back into strong up momentum but at the current market price of 140 the downside seems limited because it has a very strong support in the range of 125.50---114---105.55 and it is likely to hold this range, but please note that sustained break below 105.55 can drag it down to much lower levels of 78/44. 

Remarks: - In view of the above observation it is suggested that those who are still holding it should hold now but do not go for fresh buying at this point of time. Please note that the fresh buying can only be attempted on decline near or within the range of 114---105.55 but not below this with a strict stop loss of 98. 

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore  investors are advised to look into fundamental, financial details of the company because that too keeps on changing and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS. 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.