Quant Pick - Zee Entertainment : ICICI Direct
According to ICICI Direct, Buy Zee Entertainment in range of Rs 220-227, Target: Rs 270, Stop Loss: Rs 199, Time frame: Three months.
January 08, 2021 / 04:31 PM IST
ICICI Direct's research report on Zee Entertainment
Buy Zee Entertainment in range of Rs 220-227, Target: Rs 270, Stop Loss: Rs 199, Time frame: Three months.
Derivatives & Quantitative Outlook
The media space has remained largely range bound in the last five months with stocks like Zee underperforming the market. We believe the stock has significant room for upsides. After remaining range bound for some time, the recent up move is likely to continue towards Rs 270 and higher levels.
On the F&O front, the OI in the stock is relatively low compared to the last couple of months due to long liquidation. However, with the ongoing price performance, we believe open interest will be gradually added in the stock for the January series, which should be positive for further momentum in coming sessions.
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