The stock $PAYTM is in a strong short-term uptrend after breaking out from its previous consolidation range. The stock has witnessed strong buying momentum and is now trading well above its recent base indicating improving market sentiment. After rallying sharply to around ₹1400 the stock saw profit booking but quickly attracted buyers near ₹1250. The recent rebound suggests that bulls are defending higher levels. The immediate support is placed around ₹1280-1300 where buying interest has emerged recently. If this level breaks the next support is near ₹1220-1240. On the upside, ₹1380-1400 is the key resistance. A strong breakout above this zone could extend the rally towards ₹1450-1500. The outlook remains bullish as long as the stock holds above ₹1280. Existing investors can continue to hold while fresh buying is preferable on a confirmed breakout above ₹1400 with strong trading volumes or on dips near the support zone for a better risk-reward opportunity. Momentum remains bullish supported by strong price recovery and improving buying interest. Although some volatility is expected after the recent rally the trend continues to favor buyers.

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