ZOMATO SWING LONG TRADE - WEEK - 16 AUG 21
Expect 5-10% move upside in the week
WHY Long
- 1 hour downtrend trendline breakout and retest
- RSI positive nearing 60
- Near resistance breakout
- No long bearish candles recently
#Watchlist
#ZOMATO (30TF):- CMP 133.40, Trading into (Symmetrical Triangle pattern) and taking support keep Track :)
1) Wait for Breakout/Breakdown :)
2)RSI breakout now its taking support from breakout zone :)
It is a 1hr Time frame chart.
Intraday/Swing call to its IPO resistance.
An inverted Head and Shoulder pattern seen and the it is time to ride this pattern.
Zomato has been trying to cross the 140 level since August.
The only parameter that is not supporting is the Volumes
It has been testing multiple times 139 level
Also, it is above 200 MA
Overall looks good on 15TF
Target: 141
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...
The company’s net loss in Q1FY22 widened to Rs 356.2 crore from Rs 99.8 crore, YoY. Net loss in the quarter ended March 2021 was Rs 130.8 crore. Revenue jumped to Rs 844.4 crore from Rs 266 crore, YoY. Jefferies has updated the the target to ₹175. Theres can be short term buying opportunity with a target price of ₹150/155/160
It already formed a pattern for Long entry.
In any case if it breaks the bottom blue line and support line then go for short till the Major support line
Zomato was climbing up on a treadline. The weakness in zomato was seen when the treadline break on 4th Aug 2021. Zomato came for retest and exactly from the resistance treadline gave a fall till 131.40 took a pullback and now again trading near 131. Zomato forming 2 Bullish Hamonic pattern XABCD and closing below 131 will activate both XABCD pattern and the...
Zomato is facing important fibo levels.
Not in a aggressive mood to buy right now.
Just keeping a keeping a eye on the stock.
Please do tell me your views on this stock.
What are you entry levels ??
Zomato listed on 23/5/21 and then creating life time high of 148 and now it has created a SYMMETRICAL TRIANGLE PATTERN on 2H chart . Now zomato can give either side breakout. for upside it can create a new lifetime high or can break its low of 116. A very impressive either side breakout can happen with huge volume.
Hello traders ,
It’s been a few days since Zomato is listed, but from the starting Zomato started cooking great opportunity to trade , well as we can see in charts a symmetrical triangle is forming what else we need ♥️… mmm a breakout maybe … yeah just a breakout
