Zomato’s shares will be watched closely as the foodtech company’s losses narrowed in Q4 to Rs 188 crore. The stock’s support levels are around Rs 58-55, while resistance lies at Rs 75-80, according to Sumeet Bagadia, executive director of Choice Broking. He adds that short-term prospects of the stock may appeal to risk-taking investors. Meanwhile, M&M could move towards Rs 1,325 if it surpasses its resistance at Rs 1,285.
Mid- and small-cap pressure persists as valuation concerns deepen: Harsha Upadhyaya
Amidst DII buying and FII outflows, mid- and small-cap corrections are driven by valuation and earnings realities, according to Harsha Upadhyaya. He advises caution in