Paytm Share Price may remain bullish till Rs 793 for next 7 days, know how market experts confirmed it
Paytm share price has shown significant fluctuations, reflecting the ongoing volatility in the fintech sector. The stock of One97 Communications, the parent company of Paytm, has recently been a topic of interest among investors and analysts alike.
Main Points
Today, Paytm share price opened at ₹621.90, experiencing a slight increase of 0.99% from its previous close of ₹617.65. This follows a notable recovery trend, where the stock has surged approximately 82% over the past three months, bouncing back from lower levels seen earlier this year. Analysts suggest that the stock’s recent performance indicates a potential upward trajectory, particularly if it can breach critical resistance levels around ₹655.
Factors Influencing Paytm’s Stock Performance
- Regulatory Developments: Recent reports indicate that Paytm may face regulatory scrutiny, which has impacted investor sentiment. The Securities and Exchange Board of India (SEBI) issued show-cause notices to key executives, including CEO Vijay Shekhar Sharma, raising concerns about governance and compliance practices.
- Market Sentiment: The overall market sentiment towards fintech companies remains cautious. Despite Paytm’s recent gains, concerns about profitability and operational challenges continue to loom. The company has reported losses for four consecutive quarters, with a significant net loss of ₹838.9 crore in its latest financial results.
- Technical Analysis: Analysts have pointed out that the stock is currently testing important technical levels. A decisive close above ₹655 could signal a bullish trend, potentially leading to higher targets around ₹850-₹900 in the near term. Conversely, failure to maintain above the ₹532 mark (50-day exponential moving average) could lead to further declines.
Future Performance Predictions
Looking ahead, several analysts have provided insights into Paytm’s potential stock performance for tomorrow and beyond.
Key Predictions
- Resistance and Support Levels: The immediate resistance level is set at ₹655, while support is seen at ₹520. Analysts recommend monitoring these levels closely, as movements beyond these points could dictate the stock’s direction in the coming days.
- Analyst Recommendations: Brokerage firms have mixed views on Paytm’s stock. While some maintain a cautious stance, suggesting a hold position, others see potential for substantial gains. Ventura Securities has projected a bullish scenario where the stock could reach ₹1,170 over the next 24 months, based on optimistic market conditions and operational improvements.
- Market Trends: The fintech sector is expected to remain volatile, influenced by broader economic conditions and regulatory changes. Investors are advised to stay informed about market trends and company announcements that could impact stock performance.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
