Zee Media Corporation Limited Stock Forecast
Zee Media Corporation Limited stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The Zee Media Corporation Limited stock price gained 2.25% on the last trading day (Friday, 26th Apr 2024), rising from ₹11.10 to ₹11.35. During the last trading day the stock fluctuated 4.50% from a day low at ₹11.10 to a day high of ₹11.60. The price has been going up and down for this period, and there has been a -3.81% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately ₹101.14 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹11.92 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -31.15% during the next 3 months and, with a 90% probability hold a price between ₹5.92 and ₹8.21 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ZEEMEDIA.NS Signals & Forecast
The Zee Media Corporation Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹11.08 and ₹11.33. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -6.97%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Zee Media Corporation Limited stock
Zee Media Corporation Limited finds support from accumulated volume at ₹11.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹0.500 between high and low, or 4.50%. For the last week, the stock has had daily average volatility of 2.91%.
Our recommended stop-loss: ₹10.78 (-5.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (ZEEMEDIA.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Zee Media Corporation Limited to open at ₹11.35, and during the day (based on 14 day Average True Range), to move between ₹10.83 and ₹11.87, which gives a possible trading interval of +/-₹0.521 (+/-4.59%) up or down from last closing price. If Zee Media Corporation Limited takes out the full calculated possible swing range there will be an estimated 9.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹11.25 (0.88%) than the resistance at ₹11.75 (3.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zee Media Corporation Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.446 Buy Candidate Upgraded
Predicted Opening Price for Zee Media Corporation Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹11.35 ( 0%) | ₹11.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZEEMEDIA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.85 | 4.41 % | |
| R2 | 11.66 | 2.72 % | ||
| R1 | 11.54 | 1.68 % | ||
| Current price: | 11.35 | |||
| Support | S1 | 11.16 | -1.68 % | |
| S2 | 11.04 | -2.72 % | ||
| S3 | 10.85 | -4.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.40 | 9.25 % | |
| R2 | 12.00 | 5.73 % | ||
| R1 | 11.75 | 3.52 % | ||
| Current price | 11.35 | |||
| Support | S1 | 11.25 | -0.88% | |
| S2 | 11.05 | -2.64% | ||
| S3 | 10.45 | -7.93% |
ZEEMEDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2016 | Jul 28, 2016 | Jul 28, 2016 | ₹0.150 | 0.647% |
| 2 | Jun 18, 2009 | Aug 06, 2009 | Sep 01, 2009 | ₹0.330 | 5.18% |
| 3 | Jun 17, 2008 | Jul 17, 2008 | Sep 01, 2008 | ₹0.330 | 5.33% |
FAQ
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