- summary:
- Zomato stock fell to Rs 216.80 amid market stress and weak earnings outlook. Find out what’s next for Zomato share price.
Zomato Ltd (NSE: ZOMATO) is under pressure, as its stock fell to INR 216.80 in Monday’s session, a significant decline from its recent high of INR 304.85 in November 2024. This sharp correction reflects investor uncertainty as India’s markets face a And a broader sector. – Specific challenges. As competition in the food delivery space increases and consumer trends change, Zomato’s stock trajectory remains a focal point for investors.
Zomato stock chart analysis
Resistance levels:
- £226.93: Instant resistance. A break above this level may indicate a possible recovery.
- INR 241.21: Key resistance near 10-day simple moving average.
Support levels:
- INR 207.17: Key support, where buyers can step in to stop further losses.
- INR 171.70: Important long-term support, in line with the stock’s August lows.
Momentum indicators:
- The RSI is showing oversold conditions, indicating a potential rebound in the near term.
- Price action below the 10-day simple moving average reflects downward momentum.
What’s next for Zomato stock?
Zomato’s performance remains tied to its ability to improve profitability amid rising competition and economic pressures. Investors will closely monitor the third-quarter earnings report and any announcements related to operational efficiencies or strategic initiatives. While the stock faces headwinds, key support levels may provide a floor for further declines.
conclusion
Zomato’s stock correction has raised questions about its near-term prospects, but long-term investors may find opportunities if the company shows resilience. Keep an eye on key levels of Rs 226.93 and Rs 207.17 as the stock looks for stability.
