Eternal (Zomato) cmp 231.60 by Daily Chart viewEternal (Zomato) cmp 231.60 by Daily Chart view
- Support Zone 194 to 200 Price Band
- Resistance Zone 194 to 200 Price Band
- Falling Resistance Trendline Breakout by decent Volumes
- Rising Support Trendline seems to be activated and sustained
- Bullish Rounding Bottom completed at neckline of Resistance Zone level
- Fairly decent Bullish Double Bottom seems formed at Support Zone level
- Volumes spiking over past few days and in close sync to avg traded quantity
Zomatotrendanalysis
Zomato cmp 234.54 by Daily Chart viewZomato cmp 234.54 by Daily Chart view
- Support Zone at 217 to 224 Price Band
- Resistance Zone at 244 to 252 Price Band
- Gap Up openings and Gap Down opening are closed since July2024
- Weekly Support at 214 > 192 > 171 with Resistance at 256 > 274 >>> ATH 304.70
- Breakouts above Rising Support Trendline and Falling Resistance Trendline seem sustained
Zomato- Chart Analysis - UpdateZomato CMP:259.95; RSI:62.38;
Gap created on charts is re-claimed. Any intraday down-swing below the 245 should be brought till the level of 235. At this point the weak hands in the scripts are removed in last 2 -3 weeks of consolidation. This gives a good opportunity for re-entry into the stock.
Re-entry-level: between 234 – 245
Near Term Target: 285-290;
Target 1: 309 ( 2 months)- Strech target: 345 -370
Stop Loss-229 (on closing basis)
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Zomato Ltd. - Breakout OpportunityDate : 26-Nov-2024
LTP : Rs. 280.10
Targets: (T1) Rs. 298 --> (T2) Rs. 334
SL : Rs. 261
Technical View:
• NSE:ZOMATO is in strong primary uptrend and was recently going through it's secondary downtrend within primary uptrend.
• After touching the high of 298 on 24-Sep-2024, it has retraced 20% to 239.45 level.
• NSE:ZOMATO has breakout from it's secondary downtrend with higher volume on 26-Nov-2024.
• NSE:ZOMATO is trading above both 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has crossed over 50 DEMA on 19-Nov-2024.
• RSI is in buy zone and trading at 62.17. MACD is in bullish and trading at 2.92.
• Looking good to start a new swing from here.
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Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
ZOMATO 📈 Possible heading to 248 ( 20th May) 321 ( 12th Aug )
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
ZOMATO WEEKLY PROJECTIONWatching this major resistance zone between 160 - 168, previously the price saw a major fall from this area, so we can expect a correction to 120Rs.
Important - this is not a financial advice, kindly do your own research before trading or investing.
Zomato's Growth Odyssey: Breaking Boundaries from 115 to 135 RsTrade Idea: With the current price at 116.50 Rs, if the Zomato stock manages to breach the immediate resistance levels(115 Rs), the next target is set at 125 Rs. This milestone could potentially be achieved within a span of 8-10 days. Following this accomplishment, the price might briefly touch around 135 Rs in approximately 2-3 week.
Note: Implement a well-defined stop-loss strategy to manage risk effectively.
1st Target --> 125 Rs
2nd Target --> 135 Rs
3rd Target --> in next post
Thanks,
Kambi