Magical Shield

From Zelda Wiki.org

The Magical Shield, found in The Legend of Zelda, is a defensive item that Link can purchase from various shops around Hyrule at a cost of between 90 and 160 rupees, depending on which shop he buys it from. Unlike the basic shield, it is capable of blocking not only arrows and rocks, but most fireball and magical attacks as well as the Lynel's projectile sword attack. However, it cannot block a boss's fireballs.