IndiGo stock can fly up to 10%, says analyst; flags levels to track

Post the sharp 20% fall, IndiGo stock seems to be forming a base near ₹4,700 levels, says Kunal Shah, Senior Technical Analyst at Mirae Asset ShareKhan.

Shares of InterGlobe Aviation, the parent company of IndiGo Airlines slipped nearly 4 per cent to an intra-day low of ₹4,722 in Friday's trade post the company's Q3 results. The stock, however, recovered partly and traded with a loss of 1.8 per cent around ₹4,830 as of 10 AM.  IndiGo for the quarter ended December 2025 reported a 77.6 per cent year-on-year (YoY) drop in to ₹549 crore when compared with ₹2,448.80 crore reported in the corresponding period a year ago.  The airline's total revenue grew by 6.7 per cent YoY to ₹24,541 crore; whereas the expenses jumped by 9.6 per cent YoY to ₹22,432 crore. Earnings reportedly took a hit owing to implementation of new labour Codes, rupee depreciation and the operational meltdown in December.  IndiGo reported "exceptional items" of ₹1,546.5 crore in Q3, mainly due to a ₹969.3 crore one-time hit from the new Labour Codes and a ₹577.2 crore expense linked to its flight disruptions in December. READ MORE  Following the Q3 earnings, and management guidance on Q4 most brokerages remain upbeat on IndiGo and have retained a 'Buy' rating on the stock. READ ANALYSIS  Meanwhile, here's how IndiGo stock is placed on the technical charts. 

Indigo stock chart outlook

Current Market Price: ₹4,830 

 

  IndiGo stock is seen broadly trading below the key moving averages since the start of December 2025, post the share price meltdown. Analysts, however, flag that the stock seems to consistently be finding support around ₹4,700 levels.  "IndiGo has corrected over 20 per cent from ₹6,000 to ₹4,700, but now shows buyer interest forming a base near ₹4,700 levels," says Kunal Shah, Senior Technical Analyst at Mirae Asset ShareKhan.  The analyst reckons that a buy on dips strategy would remain valid, as long as the stock holds ₹4,700 levels (stop loss).  On the upside, Shah says an immediate hurdle for the stock exists at ₹5,000-mark, where call writers are active as per F&O open interest data. A close above ₹5,000 would confirm a short-term breakout, and the stock could then target ₹5,300 levels - which is 50 per cent Fibonacci retracement of the fall, the analyst added. This implies a potential upside of 9.7 per cent from here.  Disclaimer: The views expressed by the brokerage/ analyst in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.