Zee Ent. shares fall 11.16% as Nifty drops

Shares of Zee Entertainment Enterprises Ltd. slipped 11.16 per cent to Rs 183.1 in Monday’s commerce. It hit a excessive of Rs 201.1 and low of Rs 177.3 throughout the session.

On the technical charts, the 200-DMA of the inventory stood at Rs 198.84, whereas the 50-DMA was at Rs 212.93. If a inventory trades above 50-DMA and 200-DMA, it normally means the rapid pattern is upward. On the opposite hand, if the inventory trades beneath 50-DMA and 200-DMA, it’s thought of a bearish pattern and if trades between these averages, then it suggests the inventory can go both method.

The inventory traded beneath the sign line of momentum indicator shifting common convergence divergence, or MACD, signalling a bearish bias on the counter. The MACD is understood for signalling pattern reversal in traded securities or indices. It is the distinction between the 26-day and 12-day exponential shifting averages. A nine-day exponential shifting common, known as the sign line, is plotted on prime of the MACD to replicate “buy” or “sell” alternatives.

On the opposite hand, the Relative Strength Index (RSI) of the inventory stands at 33.92. Traditionally, a inventory is taken into account overbought when the RSI worth is above 70 and oversold when it’s beneath 30.

The return on fairness (RoE) for the inventory stood at 5.63 per cent whereas the Return on Capital Employed (RoCE) was at 7.77. RoCE is a monetary ratio that determines an organization’s profitability and the effectivity of capital use, whereas the RoE is a measure of profitability of a enterprise in relation to the fairness.