### **Technical Analysis of Swiggy Ltd. (NSE)**
The chart highlights a **descending channel breakout**, indicating a potential trend reversal.
### **Key Observations:**
1. **Descending Channel Formation:**
- Price has oscillated within two downward-sloping trendlines from **January to June 2025**, creating a bearish trend.
- **Breakout above 333.05 INR** suggests buyers may be gaining control.
2. **Volume & Price Action:**
- **Current price:** **333.05 INR**, up **1.28% (+4.20 INR)**.
- **Volume (20-period moving average):** **19.7M vs. 21.35M**—watch for a sustained increase to confirm the breakout.
3. **RSI Divergence:**
- RSI is **55.23**, indicating improving momentum but not yet in overbought territory.
- Divergence suggests weakening bearish pressure, strengthening bullish reversal potential.
- **Support & Resistance:**
- **Support:** **297.00 INR**, the lower boundary of the previous range.
- **Resistance:** **352INR**, the prior high acting as an upside target.
The chart highlights a **descending channel breakout**, indicating a potential trend reversal.
### **Key Observations:**
1. **Descending Channel Formation:**
- Price has oscillated within two downward-sloping trendlines from **January to June 2025**, creating a bearish trend.
- **Breakout above 333.05 INR** suggests buyers may be gaining control.
2. **Volume & Price Action:**
- **Current price:** **333.05 INR**, up **1.28% (+4.20 INR)**.
- **Volume (20-period moving average):** **19.7M vs. 21.35M**—watch for a sustained increase to confirm the breakout.
3. **RSI Divergence:**
- RSI is **55.23**, indicating improving momentum but not yet in overbought territory.
- Divergence suggests weakening bearish pressure, strengthening bullish reversal potential.
- **Support & Resistance:**
- **Support:** **297.00 INR**, the lower boundary of the previous range.
- **Resistance:** **352INR**, the prior high acting as an upside target.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.