Paytm, Zomato, Nykaa: Here's why you should avoid these new-age stocks

Paytm has dropped 40 per cent on a YTD basis, and Zomato seems to be revisiting its IPO issue price amid market sell-off

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