Zee Limited- Bullish Breakout
Zee Limited gives a bullish breakout.
On 7 July it first broke out of a falling trendline. Look how it even retested the falling downtrend resistance line as new support and bounced.
Today it broke above the horizontal resistance level of 218.5- this is the second entry signal.
Also, the price has closed above the 200 daily moving average which is considered as a bullish signal.
Volumes have risen too.
Entry can be initiated at the retest of 218.5
Stop loss:- Below- 196
Target- 1. 270
2. 280
On 7 July it first broke out of a falling trendline. Look how it even retested the falling downtrend resistance line as new support and bounced.
Today it broke above the horizontal resistance level of 218.5- this is the second entry signal.
Also, the price has closed above the 200 daily moving average which is considered as a bullish signal.
Volumes have risen too.
Entry can be initiated at the retest of 218.5
Stop loss:- Below- 196
Target- 1. 270
2. 280
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