Paytm, Zomato, Nykaa: Here's why you should avoid these new-age stocks
Kamalpreet
Some of the new-age companies, that were recently listed, have witnessed severe hammering lately. The shares of Zomato were down 5 per cent in Tuesday's trade at Rs 78, close to its IPO issue price of Rs 76.
While Paytm, Nykaa and others were seen trading flat to negative in a firm market. 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 Downside potential: 16% The shares of Zomato touched a new all-time low, breaching Rs 80 level
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