Paytm Dips Near Trendline As Indian Government Denies UPI Fee Plan: SEBI RA Sees Technical Strength

The analyst recommended buying with targets of ₹980 and ₹1,000, citing support on strength above key moving averages.

Shares of Paytm took support near a key trendline level, according to SEBI-registered analyst Prabhat Mittal.

At the time of writing, Paytm shares were trading at ₹904.10, down 5.9% on the day.

Mittal noted that the stock is making a higher top and higher bottom on the short-term chart and has been taking support precisely along a trendline. 

He said Paytm made a low of ₹864 today, which aligned exactly with the trendline support.

According to Mittal, the stock is currently trading above its 20, 50, 100, and 200-day moving averages, which he described as a positive sign. 

However, he added that the MACD (12,26) technical indicator is giving a selling signal.

Mittal recommended traders consider buying Paytm at the current market price of ₹908, with a strict stop loss of ₹849. 

The analyst gave upside targets of ₹980 and ₹1,000.

This technical call comes after several reports said the government was planning to impose a merchant discount rate (MDR) on high-value UPI transactions. 

The Finance Ministry later refuted these claims, calling them “false, baseless, and misleading.” 

On Stocktwits, retail sentiment was ‘bearish’ amid ‘normal’ message volume.

The stock has declined 8.5% so far in 2025.

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Editor’s Note: A previous version of this story incorrectly stated that the SEBI-registered research analyst recommended a strict stop-loss of ₹949. The correct stop-loss level is ₹849. The error has been corrected.<