Given the share increase in volatility at these counters, traders and investors are a worried lot. Here's what the charts indicate for these counters:
Zomato Ltd (ZOMATO)
Likely target: Rs 65
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The shares of Zomato touched a new all-time low, breaching Rs 80 level. The selling pressure is rising and further decline seems imminent, based on the daily chart. The immediate resistance comes at Rs 90 and subsequently at Rs 100. The bearish sentiment could see Rs 65 as the next support level. CLICK HERE FOR THE CHART
One 97 Communications Ltd (PAYTM)
Likely target: Rs 800 and Rs 770
Downside potential: 5% to 9%
PAYTM shares are down almost 40 per cent on a YTD basis, violating all the major supports, and are trading with a negative bias, according to the weekly chart. Now, the closest hurdle for the stock can be seen at Rs 900, followed by Rs 960 level. The Relative Strength Index (RSI) needs to cross 35 value to attract bullish strength, based on the daily structure. The stock could fall to Rs 800 and Rs 770 if the trend fails to show reversal. CLICK HERE FOR THE CHART
Fsn E-Commerce Ventures Ltd (NYKAA)
Outlook: Trend stays weak
The major support level for the stock was at Rs 1,650 which it held until last week. In addition, the continued gap-down closes in recent times has dismantled the positive sentiment. The trend is weak and may see addition of selling pressure in the coming days. CLICK HERE FOR THE CHART
PB Fintech Ltd (POLICYBZR)
Outlook: Expect minor pull-back, needs to overcome major level.
The stock failed to honour the support of Rs 850 on a closing basis. Thus, the downside got exaggerated with large volumes, as per the daily chart. Now, until the stock overcomes Rs 850, the trend is likely to display a negative bias. CLICK HERE FOR THE CHART
Nazara Technologies Ltd (NAZARA)
Likely target: Rs 1700
Downside potential: 10%
The violation of 200-day moving average (DMA) could see a build of negative bias, as per the daily chart. The 200-DMA is currently placed at Rs 2,065 level. The Moving Average Convergence Divergence (MACD) trades below the zero line, and shows a bearish momentum. If it fails to recover, the stock could see nearly 7-10 per cent fall. CLICK HERE FOR THE CHART
AGS Transact Technologies Limited (AGSTRA)
In the last seven trading sessions, the stock has closed with steep losses. This move could see a bounce towards the hurdle of Rs 140 level. However, the bigger trend continues to see selling pressure. Only a decisive move above Rs 165 could alter the negative outlook. CLICK HERE FOR THE CHART
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