How to trade Zee Entertainment as NCLT places it under insolvency process

Death Cross on the Zee Entertainment may push stock in the bear grip

The National Company Law Appellate Tribunal (NCLAT) on Friday upheld the insolvency proceeding against Zee Entertainment Enterprises in response to an appeal filed by chief executive officer (CEO) Punit Goenka. Shares of Zee Entertainment Enterprises had tumbled to fresh 52-week low on Tuesday; post the NCLT placed the company in the corporate insolvency resolution process.  

Whenever a stock hits a new 52-week low, the momentum suggests that bears are gaining control over the trend. Such stocks are frequently avoided by investor community contemplating more downside ahead.

Meanwhile, the overall stock price performance is not satisfactory since late 2021. It has