Buy ZEE Entertainment with a target at Rs 465: CK Narayan

CK Narayan recommends a buy rating on ZEE Entertainment with a target price of Rs 465 and a strict stop loss placed at Rs 446 in intra-day trade. The stock has gained 4 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

ZEE Entertainment is a high beta stock (1.21) and is trading well above its 50-day, 100-day and 200-day moving averages placed at Rs 399.45, Rs 399.40 and Rs 400.75 respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 49.93 and P/B of 12.19.