Momentum Pick: Will Zomato’s 21% returns over a month and technical breakouts trigger another leg of rally?

Zomato shares have rallied 21% since June 4, the day of election outcome, as against the 11% surge seen by the S&P BSE Sensex in this period, outperforming the latter by nearly twice. On Tuesday, the stock closed above previous week’s high, registering a weekly breakout. The stock is a momentum pick, say analysts who see up to 20% upside over the current levels.