Voda Idea stock ready for trend reversal? Analyst flags key resistance zone

Virat Jagad, technical analyst at Bonanza believes that Vodafone Idea stock is showing signs of base formation but needs to clear the resistance zone of ₹10.5-11 for confirmation.

Vodafone Idea (Voda Idea) stock surged up to 7.6 per cent to an intra-day high of ₹11 on the NSE in Monday's trading session following the AGR relief.  In the process, the stock quoted above its 100-day moving average, which stands at ₹10.45, for the first time since February 27, 2026. Technical analyst at Bonanza believes that Voda Idea stock is showing signs of a base formation and now trading in a key resistance zone.  "Vodafone Idea is showing early signs of a base formation after a prolonged downtrend, with the price gradually moving above short-term EMAs and attempting to reclaim the 100–200 EMA zone near ₹10.5 - ₹11," says Virat Jagad, Sr. Technical Research Analyst at Bonanza.   

Voda Idea stock chart

 

  The analyst believes that a sustained breakout above ₹11 can trigger a fresh up move towards ₹12–13 levels. In case of a dip, Jagad sees immediate support for the stock placed near ₹9.81.  Among the key momentum oscillators, the Relative Strength Index (RSI) has moved above 60, indicating improving momentum, he adds.  ALSO READ | 'Sell in May' not a good approach in 2026, says tech analyst Ajit Mishra  "The structure remains a recovery play, so confirmation is key - stock price sustaining above ₹11 will be crucial for trend reversal, whereas failure to hold above ₹10 may keep the stock range-bound," explains Jagad.  Meanwhile, in noon deals on Monday, Voda Idea had pared gains, and traded roughly 3 per cent higher at ₹10.53 levels on the NSE.  Key trigger behind today's up move  Following a reassessment, the Department of Telecommunications (DoT) slashed Voda Idea's outstanding adjusted gross revenue (AGR) dues by 27 per cent to ₹64,046 crore from ₹87,695 crore.  The company said in an exchange filing that this final amount will be payable with a minimum of ₹100 crore to be paid annually over 4 years from financial year (FY) 2031-32 to FY 2034-35. The remaining amount is to be paid in 6 equal instalments annually from FY 2035-36 to FY 2040-41, the company said.  Analysts believe the AGR relief is likely improve the Vodafone Idea's ability to raise debt from banks and invest in its network. READ MORE  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.