Paytm, Zomato: Key levels to track on new-age stocks amid F&O entry buzz

New-age stocks such as PolicyBazaar, Nykaa and Delhivery too may be included in the F&O segment as Sebi proposes key changes in stock selection.

The Securities Exchange Board of India (Sebi) has proposed key changes in criteria for stocks to be selected for futures & options trading. Among the key changes proposed - higher average daily turnover and market wide position limit. 

The proposed change aims to remove stocks with consistently low derivatives turnover and open interest.

As such reports suggest that 12 stocks may be ejected from existing list while over 75-odd stocks, including the likes of new-age stocks such as - Zomato, Paytm, Nykaa, Delhivery and PolicyBazaar among others could make the cut. READ MORE

Here's a quick technical check on the new-age stocks amid the F&O entry buzz.

Paytm

Current Price: Rs 387

Bias: Range-bound

Support: Rs 370; Rs 360

Resistance: Rs 430

Paytm stock broadly has been trading in a price band of Rs 330 - Rs 450 post the breakdown in early February 2024. Over the last few days, the stock has managed to hold above its 50-DMA (Daily Moving Average) at Rs 371, but trades fairly close to its 100-DMA resistance at Rs 430. CLICK HERE FOR THE CHART

The stock needs to overcome the 100-DMA hurdle, in order to revive hopes of a pullback towards the 200-DMA which stands at Rs 629. On the flip side, failure to overcome the 100-DMA hurdle, can force the stock back to Rs 360 - Rs 370 levels.

Zomato

Current Price: Rs 182

Bias: Range-bound

Support: Rs 173

Resistance: Rs 185; Rs 188; Rs 196

Zomato stock has been trading in a rising channel post the breakout in April 2023. For the first time in the last 13-odd months, the stock recently dipped below its 100-DMA amid the panic sell-off on June 04, but soon regained the lost ground.

The price-to-moving averages action recently turned unfavourable for the stock, as the 20-DMA at Rs 185 dipped below the 50-DMA at Rs 188. Therefore, the near-term bias is likely to remain tepid, with multiple resistances seen around Rs 185, Rs 188 and Rs 196. CLICK HERE FOR THE CHART

The stock will need to clear these hurdles in order to revive the sentiment at the counter. On the downside, the lower-end of the Bollinger Bands on the daily scale at Rs 173, which coincides with the 100-DMA is likely to act as immediate support.

PolicyBazaar

Current Price: Rs 1,301

Bias: Range-bound

Support: Rs 1,250; Rs 1,180

Resistance: Rs 1,360; Rs 1,430

PolicyBazaar stock is seen trading in a range of Rs 1,150 - Rs 1,400 since the start of the financial year 2024-25. Near resistance for the stock is seen Rs 1,360 - a level the stock is struggling to cross since the last two weeks; above which the stock is expected to face resistance at Rs 1,430.

On the downside, near support for the stock is seen at Rs 1,250, below which a dip to Rs 1,180 seems likely. CLICK HERE FOR THE CHART

Nykaa

Current Price: Rs 172

Bias: Volatility likely

Support: Rs 163; Rs 160

Resistance: Rs 178; Rs 183

Nykaa stock is likely to exhibit volatility in the near-term as the price-to-moving averages and the key momentum oscillators display a divergent trend. While the former suggest a likely tepid trend, the latter are showing signs of a positive bias. 

Nykaa is likely to face resistance around Rs 178 on the upside, above which it can spurt to Rs 183. Break and sustained trade above Rs 183, can lead to a positive trend on the stock. Meanwhile, on the downside, the stock is expected to find considerable support around Rs 163 and Rs 160 levels. CLICK HERE FOR THE CHART

Delhivery

Current Price: Rs 389

Bias: Negative

Support: Rs 350

Resistance: Rs 404; Rs 424

Delhivery stock at present is trading below its key moving averages on the daily chart, suggesting a negative bias at the counter. The chart suggests near resistance for the stock at Rs 404 in the form of 20-DMA, followed by the 200-DMA at Rs 424. On the downside, the stock may revisit its recent low around Rs 350 levels. CLICK HERE FOR THE CHART