The analyst flags a breakout in Paytm, supported by the weekly supertrend and RSI levels. He sets a July target of ₹1,110.
One97 Communications (Paytm) is exhibiting strong bullish momentum, according to SEBI-registered analyst Sameer Pande.
At the time of writing, Paytm shares were trading at ₹947.75, up ₹8.2 or 0.9% on the day.
The analyst said the stock’s 14-day Relative Strength Index (RSI) is at 69 on the daily chart and around 64 on the weekly chart, indicating sustained upward pressure.
Pande added that a breakout on the weekly supertrend further signals positive momentum.
According to him, key support levels are between ₹920 and ₹940, with resistance near ₹1,070.
Pande set the target price at ₹1,110 to be achieved by July 17, with a recommended stop-loss at ₹880 on a closing basis to manage downside risk.
On Tuesday, Paytm announced the incorporation of Paytm Singapore Pte, a unit of Paytm Cloud Technologies, to expand its merchant payments and financial services footprint in Singapore.
The unit, established with an initial investment of SG$2,50,000, will focus on distributing Paytm’s technology-led solutions across international markets.
On Stocktwits, retail sentiment was ‘bullish’ amid ‘normal’ message volume.
The stock has declined 4% so far in 2025.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
