ZEEL recently reported its Q2 FY27 results

ZEEL On the daily chart, ZEEL is trading within a long-term descending channel pattern, indicating sustained bearish momentum, with the stock consistently forming lower highs and lower lows. The upper trendline has acted as a strong resistance zone, restricting every major recovery, while the lower trendline represents an important long-term support area. Currently, the stock is trading around ₹69.77 after a sharp decline from the ₹110–₹118 zone. Although some short-term recovery is visible, the overall trend remains weak. Traders should watch the ₹65–₹60 zone for support and look for a sustained breakout above the recent swing highs and descending trendline, supported by strong volumes, before considering a meaningful trend reversal. On the fundamental front, ZEEL recently reported its Q2 FY27 results, with consolidated revenue increasing approximately 13% YoY to ₹2,224.6 crore, but net profit declining around 40% to ₹45.6 crore due to margin pressure and higher costs associated with FIFA broadcasting and new initiatives. Subscription revenue showed encouraging growth, although advertising revenue remained under pressure. Another important development is that the company’s board is scheduled to consider a share buyback and dividend proposal, which has attracted investor attention and supported recent buying interest. The key factors to monitor are advertising recovery, digital subscription growth and improvement in operating margins. Overall, fundamentals show a mixed picture, and technical confirmation is important before assuming a reversal.