Zomato Ltd. - Breakout Opportunity
Date: 26-Nov-2024
LTP: Rs. 280.10
Targets: (T1) Rs. 298 --> (T2) Rs. 334
SL: Rs. 261
Technical View:
•
ZOMATO is in strong primary uptrend and was recently going through it's secondary downtrend within primary uptrend.
• After touching the high of 298 on 24-Sep-2024, it has retraced 20% to 239.45 level.
•ZOMATO has breakout from it's secondary downtrend with higher volume on 26-Nov-2024.
•ZOMATO is trading above both 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has crossed over 50 DEMA on 19-Nov-2024.
• RSI is in buy zone and trading at 62.17. MACD is in bullish and trading at 2.92.
• Looking good to start a new swing from here.
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Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
LTP: Rs. 280.10
Targets: (T1) Rs. 298 --> (T2) Rs. 334
SL: Rs. 261
Technical View:
•
ZOMATO is in strong primary uptrend and was recently going through it's secondary downtrend within primary uptrend.• After touching the high of 298 on 24-Sep-2024, it has retraced 20% to 239.45 level.
•
ZOMATO has breakout from it's secondary downtrend with higher volume on 26-Nov-2024. •
ZOMATO is trading above both 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has crossed over 50 DEMA on 19-Nov-2024.• RSI is in buy zone and trading at 62.17. MACD is in bullish and trading at 2.92.
• Looking good to start a new swing from here.
Like the analysis? Boost/Like this idea and follow my ID.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
Disclaimer
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