In the previous session, the market saw a gap up opening and got stronger as the day progressed. The Nifty index made a day high near 16287 levels and closed with a net profit of 229.30 points. On the technical note, the index formed a strong bullish candle on the chart. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for – Tuesday, July 19, 2022’ before the market opens.

Zee Entertainment Enterprises Ltd.

In the daily time frame, Stock is moving in the form of an ‘Ascending Triangle Pattern’. Recently, stock has given a breakout from the upper resistance line on the chart. Stock formed a bullish candle on the chart. We have plotted super trend on the chart, which also gave buy signal as closing of the candle is above super trend. In addition, the Relative Strength Index (RSI) on the daily chart is 56.61 indicate strength in the stock.

In short, ZEEL chart looks attractive, one can initiate buy at current levels and add more on dips around break out levels near 230 levels which can take price towards 245 levels. This outlook is valid as long as we do not see any closing below 218 levels.

Check More Analysis on ZEEL at: Zee Entertainment Enterprises Ltd.