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Zomato management is confident of growing at a CAGR of 40% for the next two years. Food inflation has been affecting their restaurant partners but that’s making
Among the Sensex stocks, Tata Steel, L&T, JSW Steel, Bajaj Finserv, HDFC Bank, TCS, and Tata Motors opened lower, while only Reliance Industries and Asian Paints opened higher.
Now just when investors were getting worried about valuations, which are not dirt cheap anymore, and the fall in dividend yield to around 3% at current market prices, the bulls have found another reason to stick to their ground.
The directional bias remains strongly bullish till the time 18.600 on the Nifty50 is not violated. Before this, 19,000 followed by 18,800 are to be seen as key supports.
The overall trend looks positive for the Nifty index. We expect the index to move higher till 18,887 followed by 19,055 levels in the coming future.