ZOMATO- HOURLY CHART -- INTRADAY SETUP - 18/04/2022
1. zomato seen trend reversal last few days from 76 level stock made high around 88 level .. consolidations still going on from 75-90 level till 90 level break closing basis
2. stock hit resistance fall to 81 level ..stock has trendline support near 81 level where we seen double bottom formation at last rejection from 88 level stock fall to near 82-83 level have strong support where it will bounce back . that level is BUY level For target 85-86-87 stop loss will be bellow 81 level
3. RSI at mid range.
4. bullish harmani candle form on daily chart , indicate stock will bounce from 82-83 level .
5. if Gap Down open expected on monday probability is stock open gap around 82-83 level ,current CMP 83.90 so good to buy at support 82-83 .
BUY ZOMATO 82-83
TARGET 85-86-87
stoop loss 80
** THIS IDEA IS FOR EDUCATIONAL PURPOSE . ..trade at own risk .!
HAPPY TRADING !!
1. zomato seen trend reversal last few days from 76 level stock made high around 88 level .. consolidations still going on from 75-90 level till 90 level break closing basis
2. stock hit resistance fall to 81 level ..stock has trendline support near 81 level where we seen double bottom formation at last rejection from 88 level stock fall to near 82-83 level have strong support where it will bounce back . that level is BUY level For target 85-86-87 stop loss will be bellow 81 level
3. RSI at mid range.
4. bullish harmani candle form on daily chart , indicate stock will bounce from 82-83 level .
5. if Gap Down open expected on monday probability is stock open gap around 82-83 level ,current CMP 83.90 so good to buy at support 82-83 .
BUY ZOMATO 82-83
TARGET 85-86-87
stoop loss 80
** THIS IDEA IS FOR EDUCATIONAL PURPOSE . ..trade at own risk .!
HAPPY TRADING !!
Comment:
on hourly chart 200 SMA support around 82 level . !
Comment:
bought at trendline support 82.80 level
Comment:
from intraday buy 82.80 to high 84.55 till now. 84.50 work as intraday resistance . !
Comment:
we have marginal profit opportunity intraday from buy level 82.80 to high 84.50 level. ! stock close at support level 82.90 ! that means double bottom formation at this level now. !
Comment:
last 15 min candle is doji candle at this support 82.90 .. high profitability is stock will bounce back from this level next session. !