Eternal (Zomato) appears to have completed a clean 5-wave impulse from ₹194 → ₹368.45 and is now shifting into a corrective phase.
Technical Setup:
Wave A is unfolding with price slipping below the 100DMA. A temporary Wave B rebound toward ₹320–₹325 could precede another decline toward ₹281–₹261 — aligning with 0.5–0.618 retracement levels.
The corrective bias holds unless ₹368.45 is decisively reclaimed.
Fundamental Snapshot:
The FY25 data shows revenue growth of 67% YoY, reaching ₹202.4B — impressive, but free cash flow plunged 82%, and long-term debt has been fully paid off. Despite a market cap near ₹2.94T, the P/E ratio remains sky-high (~1474), hinting at over-optimism.
That combo — stretched valuation + slowing FCF momentum — supports the case for a technical pullback before the next sustained trend resumes.
Trade View:
Short-term corrective tone stays intact. Watch ₹320–₹325 for a possible lower high; deeper retracement likely toward ₹280–₹260 zone.
Invalidation: ₹368.45
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Technical Setup:
Wave A is unfolding with price slipping below the 100DMA. A temporary Wave B rebound toward ₹320–₹325 could precede another decline toward ₹281–₹261 — aligning with 0.5–0.618 retracement levels.
The corrective bias holds unless ₹368.45 is decisively reclaimed.
Fundamental Snapshot:
The FY25 data shows revenue growth of 67% YoY, reaching ₹202.4B — impressive, but free cash flow plunged 82%, and long-term debt has been fully paid off. Despite a market cap near ₹2.94T, the P/E ratio remains sky-high (~1474), hinting at over-optimism.
That combo — stretched valuation + slowing FCF momentum — supports the case for a technical pullback before the next sustained trend resumes.
Trade View:
Short-term corrective tone stays intact. Watch ₹320–₹325 for a possible lower high; deeper retracement likely toward ₹280–₹260 zone.
Invalidation: ₹368.45
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.