ZOMATO LTDLong
Zomato to Hit life time high- short Term
Updated
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
Note
Target 1 of Rs: 145 achieved, delayed by 2W;Next Target RS: 150 -152 ; SL: 139.5
Note
Target 2 Reached of 151. happy investingKeep a strict stop loss of 139.5 for all those who are still invested and ride the wave for next target of 162-165.
Note
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.Note
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.
Note
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.
Trade closed: target reached
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