Stock : ZOMATO LTD.
cmp :- 76.90 (09/06/2023)
About : Zomato Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 64,822.22 Crore) operating in Services sector. The Company helps in connecting the users, restaurant partners and the delivery partners
TECHNICAL ANALYSIS CHART 👇(DAILY TIME FRAME ).
(click on the above image for clear chart view)
observation :
As we can see the above chart the stock has formed a ROUNDING BOTTOM pattern on a daily time frame with breakout, however stock is still trading on its resistance zone only, if weekly candle closes above 80 we may expect further up side rally towards (120/160/190/230+) for short to long term investment.
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How does ROUNDING BOTTOM PATTERN works?(click here)
Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation to buy or sell. Please consult your financial advisor before taking any financial decision.
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