Swiggy Stock Corrects Sharply Post Listing; Superequity.in Sees Buying Opportunity Above ₹325
Swiggy, one of India’s leading food delivery platforms, recently got listed on the NSE and BSE, marking a significant milestone in its corporate journey. The stock initially saw strong investor interest, surging to an all-time high of ₹616. However, in recent sessions, Swiggy shares have corrected sharply, touching a low of ₹298, raising concerns among retail investors.
Despite the correction, market analysts at Superequity.in remain optimistic about the stock’s near-term prospects. According to their technical analysis, Swiggy’s stock could witness a fresh upmove if it crosses the ₹325 level.
“We believe Swiggy is poised for a short-term rally once it sustains above ₹325,” said a Superequity.in analyst. “Our first target is ₹345, followed by a next target of ₹355 over the next 3 to 5 weeks. Traders should maintain a stop loss at ₹317 on a closing basis.”
This outlook is based on price action, volume support, and broader market sentiment favoring consumption-based tech plays.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any stock. Always do your own research or consult with a financial advisor before investing.