Stock closed near Resistance Zone wait for breakout or rejections at marked zone for entry. All expected entry zone Mentioned on Chart Bullish > 293 Bearish< 289 Use SL trailing method to secure peofits
Stock closed at support Zone. Rejection from zone and Trendline upside Breakout can expect upside momentum else breakout of support drag price for downside Bullish > 273 Bearish < 268
It's simply the best time to exit ZOMATO according to me. I have updated the wave counts for your reference. It's most likely to form a WXY pattern on a cycle degree. Wave Y may form ending diagonal in 5 wave formation with a downside of upto 26 level. A fall of around 73% from CMP. I am just sharing my views here. You do your own due diligence before taking...
If Zomato breaks below Rs.65 - 63 levels, Likely to test the all time low.
We have seen a remarkable rally in Zomato Ltd in the past few months from 45 levels to 75 levels, that's a whopping 81% gain in a span of about six months only. Well, the stock doesn't seem to stop here and has the potential to give another 70-80% gain in another 6-8 months' time, if sustains above 69-70 levels. It can be a great risk to reward positional trade...
Poor fundamentals will lead to a massive fall ahead. Around 25% upside left upto 90-95 levels before a 75% fall towards 22.50 level. This is not a trade recommendation. Hope you find my insight helpful. Do your own due diligence before taking any action. Peace!!