Zee - Sony India deal: Tech charts show up to 50% upside in Group stocks

Zee Learn stock is anticipated to gain over 50 per cent to Rs 30 once it manages to conquer Rs 20-level with strong volumes

Zee Entertainment Enterprises' (ZEEL's) shares drove the Nifty Media index over 9 per cent higher on the National Stock Exchange (NSE) on Wednesday after the company's shares soared 25 per cent to Rs 320 apiece in the intra-day deals.

Investors lapped up the shares of the broadcasting giant after the Board of Directors of ZEE Entertainment Enterprises Limited (ZEEL) unanimously provided an in-principle approval for the merger between Sony Pictures Networks India & ZEEL. READ DETAILS HERE

Analysts expect the dealto put to rest investor's concerns regarding corporate governance issues, and can result in significant re-rating for the stock going ahead. It currently trades at around 16/14x FY23/24 earnings. READ ABOUT IT HERE

Againt this backdrop, here's how Zee Group stocks trade on charts:

Zee Entertainment Enterprises Ltd (ZEEL)
Likely target: Rs 350 and Rs 400
Upside potential: 15% to 30%

The shares of Zee Entertainment Enterprises have not only crossed the weekly resistance of Rs 250 levels, but have also conquered the 200-monthly moving average (MMA), which was set at Rs 241. These achievements have triggered a fresh bullish rally from a medium-term outlook. The immediate hurdle comes at Rs 350, followed by Rs 400 levels. The crucial support remains at Rs 280 levels, according to weekly and monthly charts. CLICK HERE FOR THE CHART

Zee Learn Limited (ZEELEARN)
Likely target: Rs 30 (after crossing Rs 20)
Upside potential: 50%

The stock is anticipated to gain over 50 per cent to Rs 30 once it manages to conquer Rs 20-level with strong volumes. While the counter has made several attempta to breach the mark on the upside, this barrier has been a stiff hurdle since Feb 2020. Nevertheless, the continued efforts to cross this hurdle suggest a positive strength. The current support stays at Rs 15 and Rs 13 levels. CLICK HERE FOR THE CHART

Zee Media Corporation Ltd (ZEEMEDIA)
Likely target: Rs 14.40
Upside potential: 17%

The Zee Media Corporation shares were locked in the 5 per cent upper circuit band on Wednesday, with the Moving Average Convergence Divergence (MACD) holding bullish move above the zero line. Going forward, till the support of Rs 11 is held decisively, the upside bias may veer the stock towards Rs 14.40, which is the recent high, according to the daily chart. The stock is successfully trading above all the major moving averages, which are 50-DMA, 100-DMA and 200-DMA placed at Rs 11, Rs 10.50 and Rs 8.30 respectively. CLICK HERE FOR THE CHART