Vodafone Idea stock down 21% from recent high; time to buy, hold or sell?

Drumil Vithlani of Bonanza reckons that support for Vodafone Idea can be anticipated in ₹9.80-₹9.60 range; below which the stock can technically lose momentum.

Vodafone Idea stock has been drifting lower for the third straight trading session. On Tuesday, the stock traded with a loss of around 4 per cent as it hit an intra-day low at ₹10.15.  The stock has shed 8.3 per cent in the last three straight trading sessions, and declined nearly 21 per cent from its recent high of ₹12.80 hit on December 31, 2025.  In the process, the stock has dropped below its short-term moving averages both - the 20-day moving average (20-DMA) and the 50-DMA, which are placed at ₹11.40 and ₹10.92, respectively.  Meanwhile, here's how the Vodafone Idea stock looks placed on technical charts. 

Vodafone Idea

Current Market Price: ₹10.17 

 

  Drumil Vithlani, Technical Analyst at Bonanza expects immediate support for the stock in the ₹9.80 – ₹9.60 range.  The analyst says this range aligns with the rising short-term EMA cluster and the recent consolidation lows, making it a demand zone. A deeper structural support near ₹9.00 coincides with the 200-DMA and the prior breakout base, indicating strong long-term buying interest.  With Relative Strength Index (RSI) cooling from overbought levels, Vithlani sees the current phase as a consolidation rather than trend reversal. The analyst however cautions against likely resistance around the recent swing highs.  "Resistance is likely around ₹10.80 – ₹11.00 levels, the recent swing high and profit-booking area. Further, a major overhead supply at ₹12.00 – ₹12.30 corresponds to earlier distribution and rejection zones," explains Vithlani.  The analyst concludes by saying that as long as Vodafone Idea stock holds above ₹9.60, it would keep the broader uptrend intact, while a decisive break below it can weaken the momentum. 

Here's why Vodafone Idea stock is in focus

  Prior to the current fall, Vodafone Idea stock had zoomed as much as 97 per cent in the preceding four months in anticipation of a relief in Adjusted Gross Revenue (AGR) dues.  The debt-ridden telecom company eventually got a 10-year breather on AGR payments from the Department of Telecommunications (DoT) earlier this month.  Under the revised terms, the government has asked Vi to pay a maximum of ₹124 crore annually for six years starting March 2026, followed by ₹100 crore annually for four years beginning March 2032, according to disclosures made by the company to the BSE on Friday. Vodafone Idea pending AGR dues stand frozen at ₹87,695 crore as of December 2025. READ MORE  Analysts at Motilal Oswal Financial Services believe that the AGR relief is a positive for Vodafone Idea, but it is still not out of the woods. The brokerage firm in the January update reiterated a 'Neutral' rating on Vodafone Idea with an unchanged target price of ₹11 per share.  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.