ZEEL stock trades above its 20-MMA after 16 months; what lies ahead?

ZEEL stock seen trading above its 20-Month moving average for the first time since January 2024; technical chart suggests the stock can potentially rally another 21% from here.

Zee Entertainment Enterprises Ltd (ZEEL) stock zoomed over 10 per cent and hit an intra-day high at ₹146.69 on the National Stock Exchange (NSE) after the company's promoters announced their plan to increase shareholding in the company.  Today's sharp rally in ZEEL stock was backed by heavy volume, and the stock was seen trading at a 10-month high. In the process, the stock was also seen trading above its long-term - the 20-Month Moving Average (20-MMA) for the first time since January 2024.  As per ZEEL, the company's board approved the enhancement of promoter shareholding by issuance of up to 169.5 million fully convertible warrants to the promoter group on a preferential basis, at ₹132 per warrant aggregating to ₹2,237.4 crore. As of result of which, the promoter group stake will rise to 18.39 per cent from 4.28 per cent presently. READ MORE  Technically, ZEEL stock has given a breakout on the daily scale and is seen trading above the higher-end of the Bollinger Bands. This indicates that the near-term bias for the stock is likely to remain upbeat as long as the stock trades above ₹141.50 levels. That apart, the break above its 20-MMA after 16 months holds significance.  Here's a detailed technical analysis on ZEEL stock. 

Zee Entertainment Enterprises (ZEEL)

Current Price: ₹145.10  Upside Potential: 21%  Support: ₹141.50; ₹132; ₹125.30  Resistance: ₹164.80  ZEEL stock has been making higher-highs and higher-lows on the daily scale since the breakout above its super trend line hurdle in early March 2025. The stock is now seen trading above its key moving averages, with a 'Golden Crossover' seen on June 19. CLICK HERE FOR THE CHART  The term 'Golden Crossover' means that the 50-DMA of ZEEL stock is now quoting above the 200-DMA. The moving averages stand at ₹122.10 and ₹119.67, respectively. A 'Golden Crossover' in general is a bullish (positive) formation on the charts.  ALSO READ | This retail-focussed stock can potentially rally up to 31%; say tech charts  Technical chart shows that ZEEL stock seems on course to test its 100-Week Moving Average (100-WMA) which stands at 164.80 levels; above which a spurt towards ₹175.65 seems likely.  On the other hand, in case, the stock slips below ₹141.50; it may seek support around ₹132 levels; while the overall bias is likely to remain favourable as long as the stock holds above ₹125.30 levels.