Zomato is enjoying an amazing run since March end .
Coming from 48 to 80 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 it presents a good risk to reward ratio , as this is the third attempt into the zone [. 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 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 it presents a good risk to reward ratio , as this is the third attempt into the zone [. 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.
Comment:
Boom! Close to 4R now on ZOMATO. Book 30% here
Trade closed: target reached:
Nailed to perfection. 130 reached!!