ZOMATO // Levels // 4 hour

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Hello Everyone 👋

Here are the current support and resistance levels for Zomato (ZOMATO) on a 4-hour timeframe:

**Support Levels**

1. **Previous Low**: 58.00
2. **Fibonacci 38.2% Retracement**: 60.00
3. **200 SMA (Simple Moving Average)**: 62.00
4. **Fibonacci 23.6% Retracement**: 64.00
5. **Short-term Support**: 66.00

**Resistance Levels**

1. **Fibonacci 61.8% Retracement**: 68.00
2. **Previous High**: 70.00
3. **Fibonacci 78.6% Retracement**: 72.00
4. **Medium-term Resistance**: 74.00
5. **Long-term Resistance**: 76.00

**Notes**

* These levels are subject to change as market conditions evolve.
* These levels are based on historical data and may not be a guarantee of future price action.
* These levels are not the only levels that can be used; traders can use other indicators, such as moving averages or trend lines, to identify potential support and resistance levels.

**Current Market Conditions**

* Zomato is currently trading in a bullish trend, with a series of higher highs and higher lows.
* The stock is approaching the short-term resistance level of 66.00.
* If the stock breaks above this level, it could potentially move towards the medium-term resistance level of 74.00.

**Trading Strategies**

* Buy at support: If the stock breaks below the short-term support level of 66.00, it could be a good opportunity to buy.
* Sell at resistance: If the stock breaks above the short-term resistance level of 68.00, it could be a good opportunity to sell.
* Trend following: Follow the trend by buying or selling based on whether the stock is moving upwards or downwards.
* Mean reversion: Look for opportunities to buy when the stock is oversold and sell when it is overbought.

Some key levels to watch in Zomato:

* **Earnings**: The company has seen strong earnings growth in recent quarters, with some analysts expecting further growth in the coming quarters.
* **Valuations**: The company's valuations have been relatively stable in recent months, with some metrics reaching moderate levels.
* **Sector performance**: The company's performance is closely tied to the broader sector performance of the Indian technology sector.

Remember to always use stop-losses and position sizing to manage risk when trading.