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PAYTM trade ideas

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
#PayTM Daily candle showing the biggest buy volume candle ever#PayTM Today’s daily candle is showing the biggest buy volume candle ‘ever’. You know what this typically means? While retailers are selling, Institutions or market makers are building position in it. Price made new low’s and has already reclaimed previous ATH level (dotted line as shown in chart) If price is able to reclaim this dotted line as support - I think it is a strong buy for me (with SL below dotted line on candle closing basis)
NSE:PAYTM
by BattleofStocks
PAYTM- AnalysisPaytm 1200 or 370 ? If falls below 593 then i will be bearish on this stock. If comes around 380 to 370 then will be good buying Opportunity. Major upside levels - 670, 730,790, then 850 Above this will be more Bullish, 915, 980, 1050, 1120 then 1166 or 1200 Major Downside levels - 593 or 570, then 519, 472, 426, 383 or 370 Please do your due diligence before trading or investment. *Comment or message me if you wish to see my analysis for any stocks. **Disclaimer -  I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk. Thank you.
NSE:PAYTM
by PrashantTaralkar
PAYTM Rollercoaster: Brace for Impact and Thrills! 🎢😱💼In the midst of market turbulence, PAYTM takes center stage as we observe panic selling, juxtaposed with the intriguing stability provided by a weekly order block. In this analysis by NEOALGO, we explore the dynamics influencing PAYTM's current trajectory and the possibility of a noteworthy shift. The prevailing panic selling sets a challenging tone, but the resilience showcased by a weekly order block hints at a potential turning point. As we delve into the market nuances, it's noteworthy that we won't be surprised if PAYTM reaches 100 INR within the next three months. Caution is advised. NEOALGO is not SEBI registered, and investors should conduct thorough research. Acknowledge that your decisions directly impact your profit or loss. Stay informed, navigate the uncertainties surrounding PAYTM, and consider the potential outlook provided by our detailed analysis. 📊🔍 #PAYTM #MarketTurbulence #PotentialOutlook #StrategicAnalysis
NSE:PAYTMShort
by NEOALGO_PRO
Paytm on floor, will it revive ?Levels of support marked for Paytm, as long as it holds - there is a possbility it could revive. It could go sideways for a considerable time and then make a base before starting next move up. Nobody can say if this will happen for sure just by looking at the chart as it stands now. But if one looks at the volume on this week's (week ending 2nd Feb'24) red candle it's not that big (compare with 6 Feb '23 volume for green candle where recent upmove started) so possibility that big hands are still holding it, looks like the sell-off majorly came from retailers panicking with the news. Personally I like to avoid the stocks that are too much in public eyes. For me - the appropriate SL for this scrip was around 850 on weekly closing basis - so if I had this stock, I would have exited way before the bad news. But in general - all we can do is be ready with the analysis to get in or get out as per the setup and ALWAYS RESPECT THE STOP LOSS !!! Disclaimer - personal opinion only.
NSE:PAYTM
by me1vap
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