Quote on Zomato stock pick by Bharat Gala, COO Equity broking- Ventura Securities
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Below the Quote on Zomato stock pick by Bharat Gala, COO Equity broking- Ventura Securities
“Zomato has exhibited a consistent upward move since June and made a high of 298 in September. A valid correction then followed with a lower top formation and then the stock made a low of 240 in November. Its KST, Aroon Up/Down and Demand Index indicators are positive. Recently, it also showed a symmetrical triangle breakout by a positive weekly price candle supported by volumes. After trading around the moving average for a while, Zomato is now clearly trading above its moving average. The target is 400 with support levels of 260, 254, and 248, where more shares can be accumulated. The stop loss would be 238.”
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