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Price and trend forecast of ZOMATO for Tomorrow, Weekly, Monthly

Zomato Limited

Symbol: NSE:ZOMATO

ISIN: INE758T01015

217.91

As on 2024-07-23

79.30 (52W Low) 232.00 (52W High)

ZOMATO's Today's Performance

Zomato Limited started the day by opening at 222.50 today 2024-07-23. Its shares reached a high of 223.72 and dipped to a low of 207.00 in intraday. When the markets closed, ZOMATO’s stock price settled at ₹217.91 per share. Also check out its key support and resistance levels.

ZOMATO Buy/Sell Targets

Tomorrow, sell ZOMATO when its price reaches ₹ 217.91 with a stop-loss order at ₹ 223.20. You can set the target price as ₹ 212.62 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of ZOMATO for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for ZOMATO

Downside Targets Value in ₹
Tomorrow Down Target 1 225
Tomorrow Down Target 2 233
Tomorrow Down Target 3 242

Important Levels for ZOMATO

Holding Levels Value in ₹
Tomorrow Up Target 1 209
Tomorrow Up Target 2 199
Tomorrow Up Target 3 192
Based on where the stock opens tomorrow, if ZOMATO opens on a positive note, our first target will be ₹225. If Target 1 is achieved, we will aim for Target 2 which is ₹233.

But if ZOMATO falls below the average value of ₹216.21, you can enter a sell side position with target number 1 - ₹209 and second target - ₹199 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of ZOMATO

Looking at ZOMATO, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, ZOMATO has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for ZOMATO is moderate bullish.

Tomorrow's Volume based share price Forecast for ZOMATO

ZOMATO's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -57%.

Reversal detection for ZOMATO

Predicted trend chart of ZOMATO tomorrow for price forecast
ZOMATO may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹219 in morning tomorrow
Target 1 tomorrow223
Target 2 tomorrow227
Target 3 tomorrow233
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with ZOMATO's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if ZOMATO opens on a positive note, our first target will be ₹225.42. If Target 1 is achieved, we will aim for Target 2 which is ₹232.93.

But if ZOMATO falls below the average value of ₹216.21, you can enter a sell side position with target number 1 - ₹208.70 and second target - ₹199.49

ZOMATO's Weekly Targets
1st Up Target 225.42
2nd Up Target 232.93
1st Down Target 208.70
2nd Down Target 199.49

As the week for ZOMATO ended on bullish sentiments, we can expect further continuation of this sentiment. ZOMATO's initial target will be 225.42 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 208.70 in the upcoming week.

Weekly OHLC Values
Open 214.00
High 223.72
Low 207.00
Close 217.91

Week for ZOMATO started with an open price of 214.00, and the close was at 217.91. ZOMATO reached the highest of 223.72 and dipped lowest up to 207.00 last week. This indicates a bullish sentiment for the week.

ZOMATO full month swing targets
Monthly Up Target 1 242.14
Monthly Up Target 2 249.65
Monthly Down Target 1 191.98
Monthly Down Target 2 166.05

Targets of ₹242.14 can be expected to be reached in the coming month. Once ZOMATO achieved this target, we can aim for the next upside target of ₹249.65.

ZOMATO if fails to hold upside, down targets of ₹191.98 and ₹166.05 can be achieved by end of this month.

For complete three weeks if ZOMATO is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

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BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

ZOMATO is expected to reach the target of 225.42 in tomorrow's trading session.

After achieving the initial target in ZOMATO, we will aim for higher targets of 232.93 tomorrow.

However, if ZOMATO starts to trade below ₹216.21, then we will shift our focus to the sell side and aim for down targets of 208.70 and 199.49.