Trade Spotlight: What should you do with Zee Entertainment Enterprises, Godfrey Phillips, Clean Science and Technology today

About this update from Clean Science & Technology Ltd.

Given the change in market sentiment to bearish in last two consecutive sessions, the Nifty50 may see some more correction up to 18,900, the immediate support area held on Friday-Monday, but in case the index rebounds, then 19,100-19,200 will be the area to watch on the higher side, experts said. On November 1, the Nifty50 declined 90 points to 18,989 and formed bearish candlestick pattern on the daily charts, while the BSE Sensex was down by 284 points to 63,591.The broader markets ended flat with a negative bias as about three shares declined against two shares increasing on the NSE.Stocks that were on buyers' radar in the weak market conditions included Zee Entertainment Enterprises, Godfrey Phillips, and Clean Science and Technology. Zee Entertainment Enterprises, after taking support at 200-day EMA (exponential moving average), maintained upward journey for four consecutive sessions with above average volumes on all those days. The stock has seen breakout of downward sloping resistance trendline on Wednesday, rising 3.3 percent to Rs 268 and formed bullish candlestick pattern with upper and lower shadows on the daily charts.Godfrey Phillips India climbed over 4 percent to Rs 2,361 and formed strong bullish candlestick pattern with minor shadow on the daily scale with above average volumes, continuing its uptrend for the fifth consecutive session. Also, it has seen a V-shape recovery, with trading above all key moving averages (20, 50, 100 and 200-day EMA), which is a positive sign.After consolidation in the last few sessions, Clean Science and Technology rebounded sharply and formed healthy bullish candlestick pattern on the daily timeframe with above average volumes. The stock rose over 3 percent to Rs 1,345 and reached the long horizontal resistance trendline, which seems to be crucial for further upmove towards the 20-day EMA (Rs 1,356).Here's what Jigar S Patel of Anand Rathi Shares & Stock Brokers recommends investors should do with these stocks when the market resumes trading today:Clean Science and TechnologyAt the current juncture, the said counter has a Double Bottom structure exactly near the support level of Rs 1,300. Having said that, since the last 2–3 sessions, it has made a Hammer and Inverted Hammer candlestick structure near the mentioned support zone, which is looking lucrative.On the indicator front, daily RSI (relative strength in...

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