This idea is a follow-up to Coalindia
You can check the Link to Related Ideas ( Detailed analysis done on 18th July Video )
Disclaimer: The information provided is for educational purposes only. Our intention is not to give any financial advice, don't take any decision without consulting your financial advisor.
Maker has formed a triangular pattern in daily chart. As we can see in the chart it formed a W pattern at the support level and now it is taking resistance near the trendline so any move above the trendline can be a buying opportunity.
8 Month Consolidation in Triangle Pattern after Multi-Year Breakout in June 2021
Support Retested twice on long term trend line
During Consolidation Price Increase but RSI Decrease >> Sign of decreasing Volatility and Accumulation
Monthly & Weekly RSI > 55 and increasing
Positional Buy Above 250 (Fibonacci Resistance)
Target : 294 - 321 -...
Zomato touched the strong demand zone that broke structure from downtrend to uptrend. Price reacted strong when the zone was touched and the volume was huge.
Mostly if NIFTY is positive on Monday, Zomato could change its trend and continue to rally.
As one can see there is a triangle patterns formations one can either go bullish or bearish according to the markets , if nifty opens gap up then target could be 133 and if it opens flat ,or gap down the target
Could be 122 that is exactly around 200EMA. This is for educational purposes only ,Do your own research before investing.