Zomato share price today has climbed to its new peak of ₹152.75 each. Zomato shares opened with today’s gains ₹2.00 per equity share and moved to its new lifetime high – nearly 4.50 per cent intraday gain. According to market experts, the share price of Zomato has increased after the latest breakout. ₹138 And if the stock closes above it may continue to move further north ₹150 today. They said that ₹There will be another breakout based on the 150 closing.
Speaking on the fundamentals driving the Zomato share price rally; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “Zomato shares have been bullish on the market as the company’s food delivery business is expected to witness a sharp growth in view of the unlock theme. Further, Zomato has announced its plans to enter the market. Online grocery delivery business by buying 15 percent stake in Grofers – an online grocery delivery service provider company.Since, Zomato has a strong customer data, it is expected to benefit an online grocery delivery business. “
Can one buy Zomato shares at current levels; Sumeet Bagadiya, Executive Director, Choice Broking said, “Zomato share price has gained a lot after giving breakout. ₹138 Based on closing. Similarly, it is expected to give a new breakout ₹Based on 150 completions. After this breakout, you can buy Zomato shares for an immediate target. ₹maintain stop loss at 175 ₹135. On breaking it ₹Target of 175, Zomato’s shares may go up ₹190 top ₹200. Hence, those who have Zomato stocks in their portfolio are advised to maintain stop loss over the counter ₹135.”
Zomato share price is currently being quoted ₹150.65 each (12:03 pm) in NSE.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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