ZOMATO LTDLong
Zomato in resistance zone, but worth the BUY?!
Updated
Zomato is enjoying an amazing run since March end .
Coming from 48 to 80 [ approx 66% up] in a matter of less that 4 months.
Now it is facing a crucial resistance zone. Skies look clear above 85 , but even at 78.7 [today close] it presents a good risk to reward [RR] ratio , as this is the third attempt into the zone [[most ipo buyers exit at breakeven 76]. With a invalidation below 73 on a weekly basis.
Healthy target of 127-130 range , once we get a weekly close above 78-80.
Not investment advice. Personal thoughts and how I will be playing this.
Coming from 48 to 80 [ approx 66% up] in a matter of less that 4 months.
Now it is facing a crucial resistance zone. Skies look clear above 85 , but even at 78.7 [today close] it presents a good risk to reward [RR] ratio , as this is the third attempt into the zone [[most ipo buyers exit at breakeven 76]. With a invalidation below 73 on a weekly basis.
Healthy target of 127-130 range , once we get a weekly close above 78-80.
Not investment advice. Personal thoughts and how I will be playing this.
Note
Boom! Close to 4R now on ZOMATO. Book 30% hereTrade closed: target reached
Nailed to perfection. 130 reached!!
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