Zomato Q2 results cheer the Street. Here's what should you do with the stock

livemint.com:

Zomato share price jumped nearly 5% to touch a 52-week high on Monday's trade after food delivery aggregator platform's Q2 results surpassed street's expectations on all the fronts. The brokerages noted that following two quarters of tapering growth, the food delivery company had a resurgence in growth.

Blinkit led this shift and also outperformed, with revenue growth driven by robust order volume. Zomato share price today opened at ₹119.60 apiece on the BSE.

According to technical analysts, following the strong close last week, Zomato share price have started the week with a gap up opening. “Overall we have a bullish view, expecting prices to head towards 130 in the near term, traders should maintain positive bias and use dips go longs, with 115 seen as immediate support," said Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One.