Paytm: Strong Uptrend Intact, Watch ₹1,210 as Key Support

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(CMP ₹1,241) has seen strong momentum in recent months, climbing steadily in a rising channel. On the technical front, the stock is trading above its key EMAs (20/50/200), confirming bullish trend alignment. RSI stands at ~62, cooling off from overbought levels (73), suggesting consolidation before the next leg up. Immediate support is placed at ₹1,210–₹1,195, while resistance lies at ₹1,345–₹1,360. Sustaining above ₹1,345 could push the stock toward ₹1,450–₹1,500 in the short term, while a breakdown below ₹1,195 may weaken momentum. On the fundamental side, Paytm’s Q1 FY26 performance showed improved revenue growth, narrowing losses, and better operating leverage, driven by strong fintech services and merchant payments. The company has reduced cash burn and is moving closer to breakeven, a key factor improving investor sentiment. Digital payments adoption and loan disbursal partnerships remain structural growth drivers. 🔹 Analyst Ratings: Goldman Sachs: Buy, TP ₹1,500 on digital lending & UPI growth. Jefferies: Hold, TP ₹1,300 citing rich valuations. Nomura: Buy, TP ₹1,480, positive on earnings trajectory. ⚠️ Risks: Intense competition in payments & lending space. Regulatory tightening on digital lending. High valuations could trigger volatility. 👉 Short-Term View: As long as Paytm holds ₹1,210 support, bias remains bullish with targets of ₹1,450–₹1,500.