Zomato-4- Chart Analysis

May 22

Zomoto; CMP:185.50;
Zomato chart structure seems is very strong, it’s a good buy at the current market price (range of 188-190) for a time frame of 3 months. The script will give clear breakout single once crossed and settled over Rs. 201.50 on closing basis.
The various swing targets for the script are- Target- 1- 212-215; Target-2- 226-230;
While the final Target on charts is seen at Rs 285-290 level.

Script will face major resistance at 246.5 level before marching towards the final target.

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May 26

Note

Zomato has again tested its support on Friday trading session and strong buying has immerged as soon as it slinked down to 182 level and bounce back to close above 182 levels. Keep a strict stop loss of 179 on closing basis the earlier stop loss of 181 is revised to 179 to counter the extreme volatility in market due to general election.

Jun 20

Trade active

Worst is over for the Zomato, the uncertainty in the macro economic front has eased out, last few weeks before the new leg o rally should take Zomato to new all time high.

Jul 1

Trade active

Today Zomato has given clear breakout above it long time resistance band (Breakout Zone of 197-201.5) with increased volume on Daily basis. now the target -1 of Rs 212-215 is a can be seen on charts, very soon.

Jul 11

Trade active

Target -1 of Rs 212-215 is achieved by good volume, upside in script is now getting momentum, Stay invested and enjoy the rally.

Jul 17

Trade active

The last session fall in Zomato, is because of profit booking. Its good time to add 50% of your capacity, and wait for 2-3 days and add another 50% to your portfolio. will see a upside of another 20 to 30% in coming 3 to 4 weeks

Aug 2

Note

Good quarterly results has boosted the script at 278.70 levels in intraday, BOOK PROFITS and re-enter at 246 levels for a target of 285 plus in 3 months time frame.

Aug 4

Note

I have redrawn the new layout, refer the below image and the way forward

Zomato CMP:262.35; RSI: 81.5;
Gap created on charts will be reclaimed and filled in next 2 to 3 months which gives a good opportunity for re-entry into the stock.
Re-entry-level: between 234 – 245
Target: 285-290;
Strong Support: 246; Stop Loss-229 (on closing basis)