Raghulramdoss

Is there any Trade Opportunity in ZEEL?

Long
NSE:ZEEL   ZEE ENTERTAIN ENT
ZEEL is being traded in a channel pattern for past 5 months, Last trading day it had closed near the channel support and Monthly CPR support as well. Since there have been two supports I have a bullish view on this scrip. Base on my analysis my prediction is that it may form a Cup & Handle pattern and may give breakout from smaller trendline and consolidate there for a while and it may further move up.
What i said here is just my prediction it may or may not come true. If you have considered my prediction you may Long this scrip with Stop Loss just below the channel support. Do note that it is a high risk trade opportunity. I advise conservative trader not to trade this scrip now.
Comment: As i had said to place your Stop Loss below Channel pattern, your Stop Loss would have been triggered. My prediction Turns out to be false but i had mentioned it as a Risky trade. Sometimes market behaves opposite of our prediction but it should not let our confidence down. Losses are part of business. Don't try to recover the losses by shorting it. If you want to short it, short only if price closes below Rs.180
Comment: I suggested this trade only to risky traders because of a reason that i found this pattern on Friday so markets will be closed for two days and between these two days there might be some news inflows which we don't know how will it affect the market. On Monday there was a gap down open in this scrip which is below the support level. So you should not enter into this trade as support got broken. If there was a gap down open, wait till the day's close and long only if it seems to close above the support. Thats why i said conservative traders not to trade this, they should enter the position after the confirmation signal beacuse they have smaller capital which could be easily wiped out in risky trades. They should not enter at earliest stages of breakout.