Swiggymayrebound to Rs 190, butchartsdonotsignal a trendreversal: LKP’s VatsalBhuva

Swiggy's stock price has rebounded to Rs 190, according to LKP Securities' Vatsal Bhuva. However, technical charts do not indicate a reversal in the trend. This means that the upward movement in Swiggy's stock price may be temporary, and the overall trend could continue. For markets, this is significant because it highlights the potential for short-term gains in specific stocks, but also underscores the need for caution and continued monitoring of market trends.

Why it matters

LKP Securities' Vatsal Bhuva identifies potential rebounds in Swiggy and HDFC Bank, despite seeing continued downside risks for Nifty and Bank Nifty. This could lead to a short-term increase in their stock prices.

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