On daily Time frame it has made double bottom pattern and yesterday it gave breakout of neck line which is placed near 140 level.
Please refer below chart : Daily time frame.
Any dip above 140 level will be buying opportunity.
Short term target will be 153.50/155 level.
SL will be 137.
This break out trade can take the price even higher,
Get perfect entry, either in retracements or if it moves still higher grab the opportunity.
Target 1: 165
Target 2: 170,175,180
Note: It would be better if you entered before the moment achieved, Grab the opportunity if you get a retracement or any type of price action.
As i think Zomato Ltd. is New in Market and around Every Investor Added this stock in there Watch List, that's why it's most active by Volume and it's Movement is very fast and Highly Active UP & Down, Yes Zomato is Not very Financially Strong Like "TATA" or "HDFC", and it's Ballance Shit is also not good, may be there is Risk in Long Term, But Currently Zomato is...
This is just for education purposes. Do your self-analysis enter the NSE:ZOMATO stock at the right price for good returns.
"Zomato up 85% after listing UBS, JM Financial start coverage with a buy rating. Brokerages have set a target of Rs 165-170 for Zomato shares, a 17-20% gain in the next year from the July 29 close of Rs 141"
The source is Jefferies for...