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

Zomato Limited

Symbol: NSE:ZOMATO

ISIN: INE758T01015

192.10

As on 2024-04-12

52.85 (52W Low) 199.70 (52W High)

ZOMATO's Today's Performance

Zomato Limited started the day by opening at 195.85 today 2024-04-12. Its shares reached a high of 199.70 and dipped to a low of 190.50 in intraday. When the markets closed, ZOMATO’s stock price settled at ₹192.10 per share. Also check out its key support and resistance levels.

ZOMATO Buy/Sell Targets

Tomorrow, sell ZOMATO when its price reaches ₹ 192.10 with a stop-loss order at ₹ 195.68. You can set the target price as ₹ 188.52 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 support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for ZOMATO

Resistance Levels Value in ₹
Tomorrow Resistance 1 198
Tomorrow Resistance 2 203
Tomorrow Resistance 3 207

Important Supports for ZOMATO

Support Levels Value in ₹
Tomorrow Support 1 189
Tomorrow Support 2 185
Tomorrow Support 3 179
Based on where the stock opens tomorrow, if ZOMATO opens on a positive note, our first target will be ₹198. If Target 1 is achieved, we will aim for Target 2 which is ₹203.

But if ZOMATO falls below the average value of ₹194.10, you can enter a sell side position with target number 1 - ₹189 and second target - ₹185 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 Increasing 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 Increasing 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 ₹197 in morning tomorrow
Target 1 tomorrow198
Target 2 tomorrow200
Target 3 tomorrow203
 

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 ₹197.70. If Target 1 is achieved, we will aim for Target 2 which is ₹203.30.

But if ZOMATO falls below the average value of ₹194.10, you can enter a sell side position with target number 1 - ₹188.50 and second target - ₹184.90

ZOMATO's Weekly Targets
1st Up Target 198.28
2nd Up Target 204.47
1st Down Target 187.33
2nd Down Target 182.57

As the week for ZOMATO ended on bullish sentiments, we can expect further continuation of this sentiment. ZOMATO's initial target will be 198.28 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 187.33 in the upcoming week.

Weekly OHLC Values
Open 191.60
High 199.70
Low 188.75
Close 192.10

Week for ZOMATO started with an open price of 191.60, and the close was at 192.10. ZOMATO reached the highest of 199.70 and dipped lowest up to 188.75 last week. This indicates a bullish sentiment for the week.

ZOMATO full month swing targets
Monthly Up Target 1 209.23
Monthly Up Target 2 215.42
Monthly Down Target 1 176.38
Monthly Down Target 2 160.67

Targets of ₹209.23 can be expected to be reached in the coming month. Once ZOMATO achieved this target, we can aim for the next upside target of ₹215.42.

ZOMATO if fails to hold upside, down targets of ₹176.38 and ₹160.67 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.

Related Stocks in the Same Sector as ZOMATO

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BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

ZOMATO is expected to reach the target of 197.70 in tomorrow's trading session.

After achieving the initial target in ZOMATO, we will aim for higher targets of 203.30 tomorrow.

However, if ZOMATO starts to trade below ₹194.10, then we will shift our focus to the sell side and aim for down targets of 188.50 and 184.90.