Sudeep Shah, the Head of Technical and Derivative Research at SBI Securities, has a positive outlook on Indian Hotels Company and Zomato for the upcoming week.
Indian Hotels is approaching its all-time highs and shows strong bullish momentum according to momentum indicators. Zomato has a solid base around its 100-day EMA and has recently surpassed its 20 and 50-day EMA levels, indicating positive trends.
On the other hand, the BSE Sensex is near its 200-day EMA level and momentum indicators suggest potential bearish momentum. Shah cautions that if the index sustains a move below the 200-day EMA zone of 77,400-77,300, it could trigger a significant correction. There are also concerns about Eicher Motors, which has been consolidating since June, raising questions about a possible breakdown.