Zee Entertainment has target of Rs 242-245: Thukral

Zee Entertainment Enterprises has target of Rs 242-245, says Hemant Thukral, Aditya Birla Money.

Thukral told CNBC-TV18, "Importantly yesterday again media stocks have started seeing buying coming in. They have taken a breather. They have shown consolidation and they have yesterday again started seeing OI being built up."
He further added, "Both on Sun TV and Zee Entertainment Enterprises we have seen fresh longs built up, but specially on Zee yesterday 11 percent has been built up. The way the premium or the cost has moved up and Zee yesterday has closed at a new all-time high, clearly it is suggesting more strength to come in with immediate target for traders I feel should be around Rs 242-245 which is the immediate resistance or next level. The stoploss has to be maintained, so we will be maintaining that stop loss around Rs 225."
"Metals have been seeing their buying interest clearly and one after one counter goes on adding new open positions. Yesterday Steel Authority of India Limited (SAIL) was a complete new hero. SAIL saw 11 percent OI adding up and it has been a long time I have not seen so much trading built up happening in SAIL. So it seems that SAIL is heading towards that Rs 100-102 mark. Similarly Tata Steel is another one which is on our radar continuously is adding up OI. So I think Tata Steel should also move up towards Rs 456, but yesterday SAIL was the hero on the OI front."