Meesho Ltd.

$MEESHO reported a strong operational Q1 FY27, with marketplace revenue rising ~48% YoY while net loss narrowed sharply to around ₹133 crore from ₹289 crore last year. Gross Merchandise Value (GMV) also registered healthy growth, reflecting strong customer acquisition and improving monetisation. However, management guided for a softer Q2, as the company plans higher spending on customer acquisition ahead of the festive season. This cautious near-term outlook triggered profit booking despite the strong quarterly numbers. Brokerages, however, remain constructive on the company's long-term growth and monetisation potential. From a technical perspective, the stock is trading near ₹185, exactly around the 50-DMA (₹183.3) while remaining below the 10 & 20 EMA (₹188-187), indicating short-term weakness. RSI is around 48, suggesting neutral momentum, while the MACD has slipped into a bearish crossover, indicating momentum has cooled. Despite this, the stock continues to hold above its 100-DMA (₹173), keeping the broader medium-term trend positive. Key Levels: Support: ₹182-180, followed by ₹173 Resistance: ₹188-190, then ₹198-200 Outlook: The sharp decline appears to be driven more by weak forward guidance than poor Q1 performance. As long as the stock sustains above ₹180-182, the broader uptrend remains intact and the current correction can be viewed as a healthy consolidation. Medium- to long-term investors may hold existing positions and consider accumulating gradually on dips toward the ₹180-175 zone. A decisive move above ₹190 could revive bullish momentum and open the path towards ₹200-210, while a close below ₹173 would weaken the technical structure and warrant caution.