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