SWIGGY – Rounded Bottom Breakout with Volume Surge

4 Haz

Pattern: Rounded bottom
Breakout level: ₹345
Current price: ₹355.55 (+6.71%)
Volume: 24.64M (above 20-day average of 20.91M)
RSI: 66.27 – strong bullish momentum

Target: ₹409 (18 percent upside)
Stop-loss: ₹324
Invalidation: Close below ₹340 with volume

Context:
A well-defined rounded base has broken out with strong follow-through. Volume exceeds the average, RSI confirms momentum, and the breakout candle shows no selling pressure. A bullish divergence in RSI had already signaled accumulation before price action confirmed it. Coverage initiation by Morgan Stanley aligns with, but does not drive, the technical breakout.

Disclaimer:
This analysis is intended for informational and educational purposes only and does not constitute financial, investment, or trading advice. Trading and investing in equities involve risk, including the risk of capital loss. The pattern recognition and breakout setup described here are based purely on technical chart analysis, without consideration of the company’s financial statements, earnings outlook, or valuation metrics. Market conditions can change rapidly, and price targets or stop-loss levels may not be respected under volatile scenarios. Always consult your financial advisor and conduct your own due diligence before making any investment decisions.

3 gün önce

Not

SWIGGY is consolidating after a clean breakout from a rounded bottom base above ₹345. Post-breakout move hit ₹375+ before entering a low-volume pullback phase. Price is stabilizing above breakout zone with no signs of distribution. RSI cooled from overbought and is now flattening near 58, indicating momentum reset, not reversal.

Structure remains bullish as long as ₹345 holds. Setup now resembles a base-on-base formation above prior resistance. A move above ₹365–₹368 with volume can resume momentum toward ₹409.

No change in thesis.