Vodafone Idea: Q1 Results Trigger Fresh Buying Interest

Vodafone Idea (IDEA) closed at ₹13.50, gaining 4.73% today. The stock surged to an intraday high of ₹13.69 after Q1 FY27 results and positive brokerage commentary. Ambit Institutional Equities has assigned a ₹18.70 target, implying around 45% upside from the previous close of ₹12.90. Technical Outlook: The daily chart shows a meaningful recovery from the ₹12.80–₹13.00 zone. The stock has moved back above its 10 EMA (₹13.02), 20 EMA (₹13.18) and 50 EMA (₹13.28), indicating improving short-term momentum. RSI has also recovered to around 55, supporting the positive setup. MACD has started turning upward, adding further confirmation. The immediate hurdle is placed around ₹13.70–₹14.00. A sustained breakout above ₹14 could strengthen the momentum towards ₹14.50–₹15.00. On the downside, ₹13.20–₹13.00 remains the key support zone, followed by ₹12.30. Fundamentally, the Q1 performance showed early signs of improvement, including a sequential subscriber addition of 0.3 million and 2.6% QoQ growth in ex-M2M ARPU. View: Positive above ₹13.20. A decisive breakout above ₹14 can open the next leg higher, while failure to hold ₹13 may bring profit booking. This remains a high-risk turnaround story, so volatility should be expected. $IDEA