ZOMATO be FEARFUL when others are GREEDY!It's simply the best time to exit ZOMATO according to me.
I have updated the wave counts for your reference.
It's most likely to form a WXY pattern on a cycle degree.
Wave Y may form ending diagonal in 5 wave formation with a downside of upto 26 level.
A fall of around 73% from CMP.
I am just sharing my views here.
You do your own due diligence before taking any action.
Peace!!
Zomatoshort
Zomato: The Tomato ( rotten one for investors )Mcap 45,000 Cr
Road to Profitability : Never
Dont get fooled by the Q3 profit numbers in the light of crashing share prices by the few of these charlatans.
Already down 50% from teh listing date.
DoorDash, teh US listed entity in food delivery is down 80% from $250 to $60.
Order food here till they close down but stay away from the scam.
Zomato - Channel Pattern - Only Educational PurposeThis is very risky stock so just consider for learning purpose.
My view is just technical analysis you can check fundamental analysis in details.
Risk Management is important than setup
Manage your risk
Channel Learning
Very Volatile and Risky stock
if day candle close above 68
Target 1: 85
Target 2: 94
Rejection from channel then short
Target 1: 50
Target 2: 40