Zomato shares halt five-day climb, slip 3% today; what's next:

Price of Zomato: The 14-day relative strength index (RSI) for the security was 64.31. Oversold is defined as a value below 30, and overbought as a value beyond 70. The price-to-earnings (P/E) ratio of the company’s stock is 603.43, while the price-to-book (P/B) ratio is 3.39.

The 30-share BSE Sensex pack gained 529 points or 0.80 per cent to close at 66,589.93, while the broader NSE Nifty index surged 147 points or 0.75 per cent to end the session at 19,711.45. — *Shares of Zomato have a one-year beta of 1.66, which indicates strong volatility.*

On Monday, shares of online food aggregator Zomato Ltd. declined, ending a five-day gaining streak. Over its previous level of Rs 82.47, the shares ended 2.78 percent lower at Rs 80.18. On Friday of previous week, it reached a 52-week high price of Rs 85.25.

At its closing price today, it has increased by 49.59% over the last 12 months and 33.08% so far in 2023. Analysts claim that the company’s most recent earnings and global corporate restructuring have increased investor trust.

According to the technological setup, support for the counter may be found between Rs. 70 and 75, while Zomato may encounter opposition between Rs. 85 and 90. One of the analysts added that the stock might surpass the Rs.100 mark by the end of 2023.

The stock has given a price volume breakout over Rs 73-75 levels, according to Osho Krishan, Senior Analyst, Technical & Derivative Research at Angel One. The stock’s prospects is still encouraging, in our opinion.

“The stock has witnessed a decent spurt from the consolidation phase of Rs 75 zone to resists near the peak of Rs 85 level with some profit booking witnessed,” said Vaishali Parekh, Vice-President of Technical Research at Prabhudas Lilladher.

The 14-day relative strength index (RSI) for the counter was 64.31. Oversold is defined as a value below 30, and overbought as a value beyond 70. The price-to-earnings (P/E) ratio of the company’s stock is 603.43, while the price-to-book (P/B) ratio is 3.39. A one-year beta of 1.66 for the stock indicates strong volatility.

“Zomato is doing great for the last six months, especially after restructuring its global business,” says Vaibhav Kaushik, Research Analyst at GCL Broking. All drawbacks have now been factored in. By the end of the year, we have a target price of Rs 133.