Singh said 23,700-23,800 remains a strong zone of resistance for the Nifty and sees the index trading in the range of 23,300-23,800 in the absence of any major trigger.
The brokerage has downgraded Zomato from ‘Buy’ to ‘Neutral’, and cut its price target to ₹250 per share, and Swiggy to ‘Underperform’ from ‘Buy’ with price target slashed to ₹325.
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