Swiggy’s chart has yet to show a trend reversal after its post-results decline, LKP Securities technical analyst Vatsal Bhuva said, even as he identified ₹190 per share as a possible countertrend level.
In an interview with The Economic Times, Bhuva described a sequence of declining peaks and lows dating to Swiggy’s listing. He said technical readings across daily, weekly and monthly chart views showed oversold conditions, but did not indicate that the broader direction had changed. The interview gave no timeframe for reaching ₹190.
Swiggy’s shareholder letter, dated Oct. 22, reported B2C gross order value of ₹20,793 crore for the quarter ended Sept. 30, 2026, up 24.6% from a year earlier. Consolidated adjusted revenue rose 33.8% to ₹7,909 crore.
Bhuva read Friday’s sharp decline as evidence of strong selling pressure. He suggested that the results may have made investors more cautious, The Economic Times reported; that was his assessment of the move.
