The stock of Zee Entertainment Enterprises (ZEE) has been rallying since April. The ongoing rally began after the scrip found support at ₹68. On Thursday, it surged over 10 per cent, breaking out of a key resistance at ₹97. This is also the neckline of an inverted head and shoulder and thus, the pattern now stands confirmed.

Video Credit: Businessline

As per this chart set up, the stock has turned bullish and is likely to appreciate to ₹124 in the near-term. That said, there could be a price correction, probably to retest ₹97, before the next leg up. So, traders can buy at ₹104 and accumulate at ₹97. Place stop-loss at ₹89. When the price touches ₹115 and ₹120, revise the stop-loss to ₹105 and ₹115 respectively. Book profits at ₹124. 

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Published on June 5, 2026