Zomato CMP 139.55
RSI: 71.38
Target: 145 (1W) - 150-(2W)-162-165 ( 8W)
Zomato at its second resistance level should break it in upwards direction in a weeks time and conquer its target of 145 in a weeks time. While on charts targets of 150 can be seen in in a 3 weeks time frame, before it retraces back to second resistance zone and should retest it. Third leg of targets can be of life time high is also likely (162-165)
Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance
RSI: 71.38
Target: 145 (1W) - 150-(2W)-162-165 ( 8W)
Zomato at its second resistance level should break it in upwards direction in a weeks time and conquer its target of 145 in a weeks time. While on charts targets of 150 can be seen in in a 3 weeks time frame, before it retraces back to second resistance zone and should retest it. Third leg of targets can be of life time high is also likely (162-165)
Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance
Comment:
Target 2 Reached of 151. happy investing
Keep a strict stop loss of 139.5 for all those who are still invested and ride the wave for next target of 162-165.
Keep a strict stop loss of 139.5 for all those who are still invested and ride the wave for next target of 162-165.
Comment:
TARGET 3 (162-165): Will be reached in next 2 W; followed by the correction (Profit booking) in the price. It will be a healthy correction.
Comment:
TARGET 3 REACHED (162-165):
NEXT course of action:
1. Uptrend is intact
2. Next Resistance at 169-170; should breach the same in by first week of march
3. Script, may go Consolidation once 170 is breached on closing basis. wait a watch for few trading session, before making new position.
4. News Alert: Swiggy IPO is scheduled by this year end; which will further fuel rally in this. Can be accumulate in the range of 159 t0 149, as when opportunity strikes for a target of 200++ in 6 moths time frame.
NEXT course of action:
1. Uptrend is intact
2. Next Resistance at 169-170; should breach the same in by first week of march
3. Script, may go Consolidation once 170 is breached on closing basis. wait a watch for few trading session, before making new position.
4. News Alert: Swiggy IPO is scheduled by this year end; which will further fuel rally in this. Can be accumulate in the range of 159 t0 149, as when opportunity strikes for a target of 200++ in 6 moths time frame.
Comment:
FINAL TARGET:4 ABOVE 170; REACHED
Zomato has made its lifetime high of 173.5 @ 01/04/2024.
Now watch closely for next week trading, should hold the price target above 171.5 for next target. Next targets and resistance will be updated soon.
Zomato has made its lifetime high of 173.5 @ 01/04/2024.
Now watch closely for next week trading, should hold the price target above 171.5 for next target. Next targets and resistance will be updated soon.
Trade closed: target reached
Next Target RS: 150 -152 ; SL: 139.5