Technical Overview:
Paytm’s stock has successfully broken out of a falling wedge pattern on the daily chart, which is generally considered a bullish signal. This breakout suggests a potential shift in trend, backed by increased buying interest. The stock is currently trading around ₹720, making it an attractive level for entry.
- Recommended Buy Price: ₹720
- Stop Loss: ₹650
- Target Range: ₹780 – ₹820
Fundamental Strength:
- Regulatory Approval: Paytm’s investment platform, Paytm Money, has received SEBI approval to operate as a Research Analyst. This allows the company to provide SEBI-compliant research and advisory services, strengthening its position in the financial services segment.
- Institutional Confidence: The stock has strong institutional backing, with Foreign Institutional Investors (FIIs) holding 56.20% and Domestic Institutional Investors (DIIs) holding 11.88%.
- Promoter Stability: A strong promoter stake further reinforces confidence in the company’s long-term growth potential.
Conclusion:
With a bullish breakout on the charts and positive fundamental developments, Paytm presents a promising opportunity for investors. The combination of a technical trend reversal, SEBI approval for research services, and strong institutional holdings makes it a stock to watch. Traders and investors can consider buying at current levels with a target of ₹780-820.
Until then, Happy Trading!
Commodity Samachar Securities
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