Swiggy hits record low Rs 186.15, resistance at 235

Swiggy fell as much as 11.9% to a record low of Rs 186.15 after Q2 FY27 results, with resistance at Rs 235 and no historical support. Swiggy Limited [

] fell as much as 11.9% to a record low of Rs 186.15 on 23 October and traded at Rs 188.45, down 10.86%, after its Q2 FY27 results. It was the fourth straight session of decline. Consolidated loss narrowed to Rs 922 crore from Rs 1,092 crore, but widened from Rs 791 crore in the June quarter. Revenue rose 36.1% to Rs 7,571 crore from Rs 5,561 crore. Quick commerce revenue grew 33.3% to Rs 1,306 crore, and food delivery revenue grew 21.6% to Rs 2,338 crore. The selling is tied to Instamart, whose adjusted loss widened to Rs 895 crore from Rs 849 crore a year ago. Analysts trimmed their targets after results that came in below expectations. The trend is strongly bearish on the chart. Price trades about 37% below the August high near Rs 300. At a record low there is no historical support, so the stock is in price discovery. Resistance is Rs 235, the July low. A close above Rs 235 would signal stabilisation. A close at a new low would extend the fall. DISCLOSURE: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.