Home / Markets / News / Is Paytm ready for a short-term reversal? Here's what technical charts say

Is Paytm ready for a short-term reversal? Here's what technical charts say

Shares of Paytm are expected to jump up to 20 per cent after overcoming the resistance at the 50-DMA.

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Paytm shares

2 min read Last Updated : Apr 19 2022 | 11:35 AM IST

Paytm, formally known as One 97 Communication Limited, listed on the bourses on November 18, 2021 at Rs 1,950. The share started its journey at a steep discount to the IPO price of Rs 2,150, and since then has remained under pressure.

So intense has been the selling pressure, that the stock in the last five months did not even once registered a monthly gain and in fact went on to slide to Rs 521 in March 2022. This translates into a massive 75.7 per cent fall when compared to its issue price.

Recently, global brokerage firm Citigroup Research

Topics : One97 Communications Paytm Money Stock investments Paytm Market trends Market Outlook Stock Picks stocks technical analysis technical charts

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