Walmart’s Flipkart expands grocery sales, WALMART INC UP 1.12% AT 131.37

Walmart's Flipkart

Walmart’s Flipkart expands grocery sales, WALMART INC UP 1.12% AT 131.37

Walmart-owned Flipkart will sell groceries online in more Indian cities, as it seeks to compete better with Amazon and Reliance in an e-commerce market that has grown rapidly during the COVID-19 pandemic.

Flipkart has already expanded online grocery sales to more than 50 Indian cities and intends to reach over 70 locations in the next six months, the company said in a statement on Tuesday.

The Bengaluru-based firm said its grocery service had grown “exponentially” in the past year when many Indians began buying essential supplies online due to the health crisis.

On technical fronts WALMART INC RSI stood at 30.04 and currently stock is trading below all Moving Averages. So, SELL position can be taken with following target and stoploss.

TRADE SIGNAL – : WALMART INC – SELL: 131.29, TARGET: 129.72, STOP LOSS : 132.23

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