Zomato delivers over 20% return in one month. Will it surpass 200-day EMA soon?

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26 Aug, 2025 12:21

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Zomato shares hit a four-month high on April 27, and delivered more than 20 percent return in last one month, surpassing any other indices, after forming a bottom at Rs 49 in the previous month.

The stock settled the last session with more than 4 percent gains at Rs 60.70, the highest closing level since December 29, 2022. After breaking the range of several sessions on April 21, the stock, which traded above 21 and 50-day EMA (exponential moving average), climbed above the 100-day EMA and sustained its upward journey.

The stock on Thursday formed a long, bullish candlestick pattern on the daily charts with making higher high higher low formation, and the volume remained above average.

On the weekly scale also, it has seen formation of a bullish candle with making higher tops higher bottoms for the fourth week in a row, while on the monthly charts, there was a big bullish candle formation.

Now the stock is few rupees away from its 200-day EMA which is placed at Rs 62.34 on the daily scale, which experts feel may easily surpass in coming sessions considering the current momentum.

"The stock of Zomato post a downtrend, now has made a good foundation around the level of Rs 48. The recent breakout of the double bottom pattern on the daily timeframe has indicated beginning of the trend to the upside," Vidnyan Sawant, AVP - Technical Research at GEPL Capital, said.

One can expect the 200-day EMA to be surpassed until the level of Rs 56 on the closing basis is protected, he feels.

Zomato's stock price recently broke through the resistance level of 56.65, which is a positive indicator for investors. This breakout was accompanied by the stock price moving above key moving averages, i.e., the 50-, 100-, and 200-day MA (moving average), indicating a bullish trend, and the increase in volume during the breakout further supports the bullishness in the stock, Foram Chheda, Technical Research Analyst and Founder of ChartAnalytics.co.in said.

With this positive momentum, she feels, it is likely that the stock could continue to increase towards Rs 65 level.

For those who may have missed the initial buying opportunity, it may still be wise to consider purchasing at the breakout level of 56.65-57, she advised.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.