Zee Entertainment | Standing at Support| Latest stock market news
(3 minutes read)

Stock name: Zee Entertainment (NSE CODE: ZEEL)

Pattern: At Support

Time frame: Daily

Observation:
The stock is currently at its support level; this level was tested by stock in February 2023. If the stock is able to hold this level, we may see a fresh up-move from here.
Another interesting thing is that, this stock has been seeing strong roll over for last 3 months (including June rollovers) in derivatives data; it means the stock has strong chances of holding on to this support level.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) ICICI Bank has shared with the stock exchanges that its board has given approval to increase its ownership in ICICI Lombard General Insurance by 4%, spread out over multiple phases. Currently, the bank holds a 48.02% stake in the general insurance company.

2) Late on Saturday, negotiators from the White House and the Republican party reached a tentative agreement to increase the US debt ceiling. This agreement aims to prevent a situation where the US could not pay its debts, which could have negative effects on the global economy. To know more on US Debt Crisis:- https://youtu.be/848AewRhGJI

3) Reliance Jio added 30.5 lakh subscribers in March, as its subscriber count exceeded 43 crore, compared to 42.71 crore in February. While, Airtel added 10.37 lakh mobile subscribers in March, raising its subscriber base to 37.09 crores in March against 36.98 crores in February. It is pertinent to mention that in February too, Reliance Jio had added the maximum number of mobile subscribers (at about 10 lakh) among telcos, while Airtel had gained 9.82 lakh mobile users during February.