#ZEEL May post inline result as per chart. Zeel after fall consolidating in important support zone if stock brewak 382 level we can see upside toward 395-405 level and if Zeel breaks 360 level we can see downside toward 340-330.
The massive support lies at 430-440 zone. Below,it's headed to 415 where it will again find support. As the stock is not fundamentally poor and is going strong amid deals of sale, we believe it will not go below 415 in closing basis.
Zeel has produced a fantastic quarter while the price action does not support this in the past few months due to ongoing proposed deal. But option writers can capitalize on this as the stock is bound to get immediate support at this price.
Selling 460 PE or 470 PE at 15 or 22.30 (markets closed)
Buying 480 CE or 490 Ce at 6.1 or 4
The hedging can be done by buying...
This is weekly chart of ZEEL on NSE (INDIA) which indicates that the stock broke out the key resistance drawn on the chart. In the prior week, it again tested the key resistance in the prior week and shown a bearish candle in the last week. RSI is below 40 indicating poor momentum. It is also observed that price retraced to 38.2% on Fib before down trend resumed....