Trading recommendations - June 07, 2004

Zee Telefilms - The media industry has had a good run in the last few months, thanks to the economic uptrend and the elections, both of these factors have resulted in higher advertisement revenues. The scrips in this segment are showing a mixed trend and Zee Telefilms is a strong market player. The charts are pointing towards a short term bullishness on the counter and aggressive / high risk traders may buy in small lots for short term gains.

Your call of action - 

• Investors / cash segment players -buy in small lots as long as the counter stays above the 200 day SMA placed at the 134 levels. Maintain a stop loss at the 129 levels and a profit target of 138, where atleast 60 - 70 % of the positions should be squared up. The remaining should be wound up at the 142 levels.

• Aggressive F&O traders - n/a

• Derivatives contract size - n/a.

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