ZOMATO LTDLong
Zomato reversing from support with a Bullish Engulfing!
Updated
✅At support and reversing with bullish engulfing.
✅Strong candle.
✅Stock tends to respect 50 DMA and ride on 50
DMA.
❗️Trading below 50 DMA.
❗️Overall market structure needs to improve further
and more confirmation is required. The risk of a
potential downtrend still exists.
Please consult your financial advisor before investing. This is not a trade recommendation.
▶️Market Cap---₹ 2,26,122 Cr.
▶️Current Price---₹ 256
▶️Stock P/E---305
▶️ROCE---1.14 %
▶️ROE---1.12 %
✅Strong candle.
✅Stock tends to respect 50 DMA and ride on 50
DMA.
❗️Trading below 50 DMA.
❗️Overall market structure needs to improve further
and more confirmation is required. The risk of a
potential downtrend still exists.
Please consult your financial advisor before investing. This is not a trade recommendation.
▶️Market Cap---₹ 2,26,122 Cr.
▶️Current Price---₹ 256
▶️Stock P/E---305
▶️ROCE---1.14 %
▶️ROE---1.12 %
Trade active
T1 Hit. Trade closed: target reached
T2 Hit and crossed. If closed above 298-300 can look for fresh entry or further addition to an existing position. 
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