Zomato for Target upto "190"

2021년 11월 20일

Hi Traders / Investors ,
This is a Swing / Positional Trade.
I can see a bullish momentum in Zomato for following reasons :-
1) Resistance Level from ( 4 months ) got broke now acting as a Support.
2) Breakout with large bullish candle with increased Volumes.
3) As per Fibonacci , it is taking Support at 0.382 level which is good support with healthy retracement.
4) As per RSI indicator, it is above 60 level which is considered bullish.

Giving a Risk to Reward of 1:5 , with staggering returns upto 26% ,
Entry - 153 -154 level
Stoploss - 145 level
Target - 194 level

This is just an analysis so don't take any decisions solely based on this.

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