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Published: August 22, 2024
Updated: August 22, 2024

Short-Term Gains Ahead for Paytm and Zomato, Says StoxBox

Paytm Shares to Reach Rs 615

StoxBox has predicted a short-term target of Rs 615 for Paytm shares, with a stop loss at Rs 530. The brokerage firm cites Paytm's large and active customer base of 7.8 million monthly transacting users, as well as its diverse revenue streams, as key factors driving its growth.

Technical Analysis of Paytm

StoxBox notes that Paytm's technical charts indicate a potential reversal in trend, with a Bullish Cup and Handle breakout and short phases of accumulation. The stock has also reclaimed its 200 DMA, providing immediate support.

Zomato Shares to Hit Rs 285

StoxBox has also recommended buying Zomato shares for a target of Rs 285, with a stop loss at Rs 252. The brokerage firm notes that Zomato's stock price has been on a strong uptrend since January 2023, completing a full-circle and indicating potential momentum.

Technical Analysis of Zomato

StoxBox highlights Zomato's resilience to drawdowns below its shorter-term moving average, offering a low-risk, high-reward opportunity. The stock has also displayed improving EPS, price strength, and strong buyer demand.

Fundamental Analysis of Paytm and Zomato

StoxBox expects revenue and profitability for Paytm to improve going forward, driven by growth in operating metrics and cost optimization. For Zomato, the brokerage firm notes that the company has a stable outlook for the food delivery sector and is focused on expanding its quick commerce segment and improving profitability.

StoxBox's analysis suggests that Paytm and Zomato shares are poised for short-term gains, driven by their strong fundamentals and technical indicators. Investors should consider these recommendations and conduct their own research before making any investment decisions.