 "Bandhan Bank, IDFC, ZEEL: Trading strategies for buzzing stocks of the day")
Benchmark indices, BSE Sensex and Nifty50, slipped nearly a per cent in intra-day deals on Thursday amid tepid global cues. Individual shares, however, exhibited wild swings amid news flow.
Shares of IDFC, for instance, took a knock in Thursday's session, plummeting 6 per cent, following the stake sell announcement in IDFC Assest Management Company Ltd and IDFC AMC Trustee Company to a consortium of Bandhan Financial Holding. READ MORE
ZEE Entertainment, on the other hand, opened gap down but managed to retreat soon and traded flat in the first hour later. The company is on investors; radar as its shareholder Invesco Developing Market fund is said to be looking to reduce its shareholding in the company. READ MORE
Here's is the outlook for buzzing stocks of the day:-
Zee Entertainment Enterprises Ltd (ZEEL)
Likely target: Rs 332
Upside potential: 11%
The shares of Zee Entertainment Enterprise are well above the 200-day moving average (DMA) support, set at Rs 269.50 mark. To breakout on the upside, the stock needs to firmly overcome the hurdle of Rs 298.60 levels, its 100-DMA, shows the daily chart. It did conquer the same on multiple occasions, but severely failed to possess strength. The breakout could see Rs 332-mark on the stock, which is its next resistance level. The immediate support comes to Rs 280 level. CLICK HERE FOR THE CHART
IDFC Limited (IDFC)
Outlook: Need to retrieve in intraday session
IDFC shares hit a fresh 52-week high of Rs 70.20 on Wednesday. HOwever, the stake sell announcement may have an elongated negative impact on the share price. The stock trades firmly with a cut of 6 per cent at around Rs 64 levels and if it fails to retrieve during the remaining session, then the stock could see follow-up selling in days ahead. CLICK HERE FOR THE CHART
Bandhan Bank Ltd (BANDHANBNK)
Outlook: Breakout above Rs 330
The next breakout for Bandhan Bank stock appears to be above Rs 330 resistance, as per the daily chart. The support comes at Rs 306 and Rs 300 levels. The present trend suggests at a bullish bias, as the Moving Average Convergence Divergence (MACD) comfortably trades above the zero line. CLICK HERE FOR THE CHART
Shares of IDFC, for instance, took a knock in Thursday's session, plummeting 6 per cent, following the stake sell announcement in IDFC Assest Management Company Ltd and IDFC AMC Trustee Company to a consortium of Bandhan Financial Holding. READ MORE
ZEE Entertainment, on the other hand, opened gap down but managed to retreat soon and traded flat in the first hour later. The company is on investors; radar as its shareholder Invesco Developing Market fund is said to be looking to reduce its shareholding in the company. READ MORE
Here's is the outlook for buzzing stocks of the day:-
Zee Entertainment Enterprises Ltd (ZEEL)
Likely target: Rs 332
Upside potential: 11%
The shares of Zee Entertainment Enterprise are well above the 200-day moving average (DMA) support, set at Rs 269.50 mark. To breakout on the upside, the stock needs to firmly overcome the hurdle of Rs 298.60 levels, its 100-DMA, shows the daily chart. It did conquer the same on multiple occasions, but severely failed to possess strength. The breakout could see Rs 332-mark on the stock, which is its next resistance level. The immediate support comes to Rs 280 level. CLICK HERE FOR THE CHART
IDFC Limited (IDFC)
Outlook: Need to retrieve in intraday session
IDFC shares hit a fresh 52-week high of Rs 70.20 on Wednesday. HOwever, the stake sell announcement may have an elongated negative impact on the share price. The stock trades firmly with a cut of 6 per cent at around Rs 64 levels and if it fails to retrieve during the remaining session, then the stock could see follow-up selling in days ahead. CLICK HERE FOR THE CHART
Bandhan Bank Ltd (BANDHANBNK)
Outlook: Breakout above Rs 330
The next breakout for Bandhan Bank stock appears to be above Rs 330 resistance, as per the daily chart. The support comes at Rs 306 and Rs 300 levels. The present trend suggests at a bullish bias, as the Moving Average Convergence Divergence (MACD) comfortably trades above the zero line. CLICK HERE FOR THE CHART
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