Zomato Ltd. has shown signs of weakness at its current level of **₹274**, and technical indicators suggest a possible correction in the coming days. The stock may witness a downside movement towards **₹242**, making it a potential shorting opportunity in the derivatives segment.
Technical Analysis & Market Sentiment
Resistance & Stop-Loss: The immediate resistance for Zomato is around **₹281**, which should be considered as a stop-loss for short positions.
Support Levels: The stock has crucial support around ₹242, where buyers might step in.
Indicators: A weakening trend, along with market sentiment, suggests further downside before any potential recovery.
Trading Strategy
Short Position: Traders can consider going short in the derivative segment at current levels.
Stop-Loss: Maintain a strict stop-loss at ₹281 to manage risk.
Target: A potential downside level of ₹242.
*Disclaimer
This analysis is for *educational purposes only* and does not constitute financial advice. Investors should conduct their own research or consult with a financial advisor before making any trading decisions.
