ZOMATO has break the 5 month long trendline in downside . I've did this analysis on last trading session and today forgot to take short entry but it has break the trendline wth very good volume and today down almost 6%. this trendline can now work as resistance.
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.
It would be interesting if view is validated by the stock --- Zomato New LIsting riding uptrending Parallel Channel Stock can test levels of 120-130 price. Disclaimer: View for Education Purpose only, not to be taken as a trading advice.
Zomato - Since listing Almost all waves are corrective waves - Could find a good support between 130-140 levels..
from high of 169.10 to low of 115.05, price is currently taking support at 0.5 fibonacci retracement levels, no way it's going down, BUY before it's too late... comment your views 👍🏻/👎🏻
Zomato H & S Seems bearish may continue concentrate for short
Zomato stock has formed a trendline in 1hr which possibly may start moving upside once the trendline is broken
It showing clear indication of triangle pattern, moving average support🎯..
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
It showing clear indication of triangle pattern,and moving average support. Target🎯 at 183₹....,.........
If u have interested to buy it,...entery is showing EM50, volume and pul back,,,,
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 can be looked at CMP of @160 for the target of 20% in short term. in LT it's multibagger.
The stock has shown a good move on Friday and it is in kind of ascending channel pattern so we can expect level of 165 in coming days. It may correct also before achieving the our target as it has show good move and profit booking may take stock little down. Please do your own study before any trade. I may be wrong at any point of time so please do your own study.
zomato showing bullidh moment this time but it might be reversal next day becuz it touched its resistensce zone and if its crosses its resist zone then that will be fake breakout so just comedown the zomato shareat the level of 147 and make it a new support zone then stronglly recomended thta buy it.. at that level..