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ONE 97 COMMUNICATIONS LTDONE 97 COMMUNICATIONS LTDONE 97 COMMUNICATIONS LTD

ONE 97 COMMUNICATIONS LTD

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PAYTM trade ideas

PAYTM Clearly leaning towards 1000The chart depicts the weekly timeframe analysis of Paytm (ONE 97 Communications Ltd) stock, showing a significant resistance level near the 820 INR price zone, represented by the thick blue horizontal line. Paytm’s stock has been on an upward trajectory, bouncing from lower levels, and is now testing critical resistance levels. The trendline, descending from previous highs, also intersects at this resistance zone, making it a crucial level to break for further upside. The green zone suggests a potential upside for Paytm, with target levels marked at 966, 1124, and 1307 INR, indicating possible Fibonacci retracement targets if the breakout sustains. These levels correspond to the 61.8%, 70.0%, and 78.2% Fibonacci retracements, commonly seen as important levels in technical analysis. A successful weekly close above 820 INR could pave the way for these targets, signifying bullish momentum continuation. However, the chart also highlights a risk factor for bulls: the “Bull view invalidates below 626 on weekly closing” warning. This suggests that if the stock closes below 626 INR on a weekly basis, it could signal a trend reversal, potentially leading to a bearish outlook. Additionally, the volume bars indicate heightened buying interest in recent weeks, further supporting a possible breakout scenario. For investors or traders, maintaining a bullish stance above the 626 INR support with a close watch on volume could be a prudent strategy. The moving averages (SMA 532.42 and SMA 617.42) also serve as dynamic support levels, adding to the stock’s current bullish sentiment.
NSE:PAYTMLong
by TheSnop
1
PAYTM Ascending triangle PatternPaytm Daily Chart Analysis This daily chart of ONE 97 Communications Ltd (Paytm) shows a strong uptrend with prices consistently following an ascending trendline, forming a triangle pattern with higher lows. The stock is currently testing the resistance zone around ₹780 - ₹790, which aligns with previous rejections. Key Observations: 1. Triangle Pattern Formation: A triangle pattern is forming as the price consolidates within narrowing boundaries, indicating a possible breakout soon. The lower trendline has acted as strong support throughout this rally. 2. EMA Support: The price is trading above the 13, 48, and 200 EMA levels, signaling a bullish sentiment. These EMAs have provided reliable support, reinforcing the ongoing uptrend. 3. Volume Analysis: There is steady volume, with spikes on green days, suggesting accumulation. This volume behavior often precedes a breakout, where a significant volume increase can confirm the direction. 4. Resistance Levels: The key resistance levels to watch are ₹790 and ₹803. A breakout above these levels, especially with high volume, could push the stock into new highs. 5. Potential Scenarios: • Bullish Breakout: If the price closes above ₹790 with strong volume, it may lead to a breakout, targeting ₹850 and higher. • Reversal Scenario: If it fails to break ₹790 and reverses, it may retest the support around ₹748. A breakdown below this support could lead to further downside toward ₹700 or lower. RSI: The RSI is around 59, indicating mild bullish momentum. Watch for an RSI break above 60 to confirm strength on a potential breakout. Summary: Paytm’s price action suggests a high probability of a breakout. Traders should watch for a close above ₹790 for confirmation. Maintain caution around resistance and support levels, as a failed breakout could lead to a pullback. Disclaimer: This analysis is for educational purposes only and should not be considered as financial or trading advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
NSE:PAYTMLong
by tintinhawk
PAYTM S/R Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:PAYTM
by zenthosh
Gap Fill - PAYTM📊 Script: PAYTM 📊 Sector: E-Commerce/App based Aggregator 📊 Industry: Miscellaneous Key highlights: 💡⚡ 📈 Script will fill gap in near future, we may see some good rally. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 564 🟢 Target 🎯🏆 - 750 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:PAYTMLong
by radha_23
PAYTM Bull flag breakout to 727?🚀 Paytm on the Move! 🚀 What a time for Paytm investors! We’ve just witnessed a powerful bull flag breakout, one of the most bullish chart patterns in technical analysis. This is a textbook signal that a major upward trend could be underway. 📈 For those unfamiliar, a bull flag pattern forms when a stock makes a strong upward move (the flagpole) and then consolidates in a downward or sideways channel (the flag). Once the stock breaks out of this consolidation phase, it usually indicates that more upside is coming. And Paytm is showing all the signs of a significant rally! 🚀 This breakout hints at growing momentum as buyers step in with confidence, anticipating further gains. With digital payment platforms like Paytm driving the future of financial transactions, it’s no surprise that market interest is strong. 💰💳 Of course, no one can predict the future, but the technicals look promising, and it’s an exciting time for those keeping a close eye on this stock. Whether you’re a seasoned trader or just getting started, this is a moment to watch closely!
NSE:PAYTMLong
by TheSnop
Chart of the week. PayTM After its listing @ 1964 PayTM is falling down like London bridge. So far it has fallen around 321% from its all time high of 1964. This week, however, the stock has done something different. After 6 months of consolidation, the stock has given breakout above 440. In my opinion, it has made a double bottom pattern . However, even if I'm wrong it has at least given a bullish rectangle breakout with higher volume. On the fundamental side, the company is almost debt free so has a huge advantage. Whoever wishes to take this trade should know that it is a very well beaten stock with bad balance sheet . For me its a worth of a trade with small risk. CMP - 466 (13/7/24) T - 800, 1000 W SL - 395 W
NSE:PAYTMLong
by AbNamjoshi
PAYTM to 1000 #PAYTM Broadening wedge setup, exactly bounced off the lower trendline and now looks pretty good. Dont forget, MUTUAL FUNDS and MORGAN STANLEY have bought this dip massively. Previous Lows were around 450 and that should present itself as a massive resistance. Once we break that, its bull season for and the confirmation of the double breakout will only be above 480 that is 23.6 on the fibs. POTENTIAL UPSIDE: 656 - 791 - 994 and timeframe I am expecting is within 2024. Invalidation of the view is on the break below 340 on closing basis on 2D timeframe.
NSE:PAYTMLong
by TheSnop
Paytm - Royal Trapping of Retailers (or) Real Bullish Reversal ?Paytm is Hot News for the past couple of weeks on all Social Media channels for obvious reasons. While RBI and Central Govt turned their back on Paytm, the once famed as Hero is now on the verge of becoming Zero. Right from the IPO valuations, Paytm is not in good books of many investors and has been losing its value continuously from 2000 all the way down to 300 range now While Many Retailers who are Trapped in there - looking up to the almighty for a saving hand, many feel the new about Axis bank taking up the role of Paytm Payments Bank is that Light at end of the Tunnel. Do the Technicals support this view ? or is it one more ploy by the Biggies to Royally Trap the Already Beaten down Retail investors ? Let's review below Technical Analysis: Monthly Chart: Right from IPO the price fell, then moved upside inside a Parallel Channel forming a Bearish Flag pattern then Breakdown of Flag which is so bad Weekly Chart: We published the Weekly Chart on Feb 14 - clearly calling Paytm to be a dangerous script to invest in right now. It Broke-down from the 2 Year Upward Parallel Channel and broke the Last 3 Rays of Hope (the 3 Support lines). It was a Classic case of Breakdown-Retest-Fall Daily Chart: On the Daily chart - for the past 3 days, Paytm is hitting 5% UC, but where is it heading ? Heading right to the Previous Bounce Zone - 395. Now Why is 395 so significant ? Its not just the Resistance Now - but rather on the Fibonacci Retracement scale - 395 is sitting right at 0.382 Retracement Level. Remember Fibonacci Retracement rule ? If any stock happens to Retrace to any one of Fibonacci Levels and It also happens to be a Support / Resistance then it adds more power to the Support or Resistance. In this case, its a Resistance. If the Price gets rejected from 395, then again its the classic case of Breakdown-Retest-Fall What is Safe Zone now ? Anyone Already Holding Paytm - continue to Hold and wait for confirmation of Rejection / Breakout of Resistance at 395 zone New Entries must strictly be avoided at this stage - No Bottom Fishing - else you wont survive to have your Sunday Fish Fry :) The Bullish Confirmation starts only after successful and decisive Break-out of all 4 Resistances (395, 440, 480, 525). Until then - it is still Bearish Play Safe..Advice Caution...No New Entries Disclaimer: 3+ Years Teaching Experience in Stock Market - Technical Analysis, Advanced Patterns, Emotional Management, News based Trading... We are NOT SEBI Registered Our focus is NOT providing Buy/Sell Recommendations/calls Primary Objective is to provide detailed analysis of how to review a chart, explain multi--timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide irrespective of its Side" *** Important *** Consult your Financial Advisors before taking any positions If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:PAYTMShort
by Stocks-n-Trends