** Posting my opinion - Any difference of opinion is welcome **
Why to invest:
1. Moving towards 132 levels (good support).
2. At the brink of channel pattern.
3. Very tight SL
Why not to invest:
1. No big volume seen recently.
2. Fundamentally weak.
Take your own call.
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.
Hello there!
what an upward trend it is to see.
Resistance at 147 levels, Support at 135 levels.
But!
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...
The stock declined after breakout on good volume, only to retest the BO zone. It has made 2 inside bars at the breakout point on very low volume. Likely to pick up from here. Offers very good RR.
