Dear All, As Zomato was listed on Friday and we have only 1 Day chart on this. Here I have discussed a simple trick to trade Zomato for coming days.
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades...
Zomato listed today with more than 65% return on its first day.
Volumes where very high and the share reached its highest point at Rs.138 in the opening hour
For 26th July, 2021
1st Resistance is at 128
If first resistance is broken we can see the share reaching 132 + levels again
2nd Resistance is at 138 which is mostly unlikely to be broken...
If Zomato's business grows, there's a chance they will require motorcycles. Hero and Bajaj are two leading two-wheeler makers. They also have stakes in EV companies. Another level of looking at it is to look at battery stocks which might also be an interesting proposition. What do you feel?