ZAIN is showing no signs of life. The stock is
underperforming its peers and there are no signs of a turnaround visible as
yet. However, due to oversold readings, it may reverse its course for the next
few days to test SAR 12.50-13.00 level. Major psychological support is placed
at SAR 10.00 level. Swing traders should gradually accumulate the stock on
weakness with a view to book profits in the range of SAR-12.00-13.00. The
stoploss should be placed at SAR 9.60.
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