Chandan Taparia of Anand Rathi told CNBC-TV18, "Zee Entertainment is consolidating and holding the gains even after the sharp decline in the price. The stock is making an attractive price pattern and looks strong to move towards Rs 400. Even after the market pressure, we have seen fresh built up of long positions. Also the delivery volume, which clearly indicates that the stock is all set to move higher. That is why we are suggesting to trade long here. Keep the stoploss near Rs 378 and expect the upside target of Rs 400."
At 13:17 hrs Zee Entertainment Enterprises was quoting at Rs 385.15, up Rs 8.95, or 2.38 percent. It has touched an intraday high of Rs 387.05 and an intraday low of Rs 378.30.
Disclosure: Analyst has no personal holdings.
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