* These levels are subject to change as market conditions evolve. * These levels are based on historical data and may not be a guarantee of future price action. * These levels are not the only levels that can be used; traders can use other indicators, such as moving averages or trend lines, to identify potential support and resistance levels.
**Current Market Conditions**
* Zomato is currently trading in a bullish trend, with a series of higher highs and higher lows. * The stock is approaching the short-term resistance level of 66.00. * If the stock breaks above this level, it could potentially move towards the medium-term resistance level of 74.00.
**Trading Strategies**
* Buy at support: If the stock breaks below the short-term support level of 66.00, it could be a good opportunity to buy. * Sell at resistance: If the stock breaks above the short-term resistance level of 68.00, it could be a good opportunity to sell. * Trend following: Follow the trend by buying or selling based on whether the stock is moving upwards or downwards. * Mean reversion: Look for opportunities to buy when the stock is oversold and sell when it is overbought.
Some key levels to watch in Zomato:
* **Earnings**: The company has seen strong earnings growth in recent quarters, with some analysts expecting further growth in the coming quarters. * **Valuations**: The company's valuations have been relatively stable in recent months, with some metrics reaching moderate levels. * **Sector performance**: The company's performance is closely tied to the broader sector performance of the Indian technology sector.
Remember to always use stop-losses and position sizing to manage risk when trading.
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