I am not SEBI registered person and this is not an investment advice and also please note this is only for education purpose. Also note I have already bought IRCTC shares for my own portfolio and also we can use this research again for my own portfolios. So don't influence yourself by this research. Please note before investing according to this...
Hi Traders / Investors ,
This is a Swing / Positional Trade.
I can see a bullish momentum in Zomato for following reasons :-
1) Resistance Level from ( 4 months ) got broke now acting as a Support.
2) Breakout with large bullish candle with increased Volumes.
3) As per Fibonacci , it is taking Support at 0.382 level which is good support with healthy...
zomato mcap of 1.5 L cr
a technical bearish aggressive scenario shall take place
as there are already enough peers against it and the craze of the same might fade away
and margins are shallow
i see stock moving south accordingly
Zomato was continually facing rejection and also creating a trendline near 145-150. Today it broke the trendline with huge Volume and made a record high near 155. It can contune this rally if it will pass the retest at the trendline.
Zomato is forming a kind of symmetrical triangle and taking support and facing resistance at the trendline.
Disclaimer:- This is only for educational purposes please do your own analysis before investing hard-earned money.
what an upward trend it is to see.
Resistance at 147 levels, Support at 135 levels.
Is it overpriced for the kind of industry it is in? well, a company that has burnt nearly $2 Billion to get to a stage where it is today, and still is in requirement of cash to survive/grow in the future, May be, Yes!
I agree market's optimistic about the...