Swiggy may rebound to Rs 190, but charts do not signal a trend reversal: LKP’s Vatsal Bhuva

LKP’s Vatsal Bhuva has indicated that Swiggy shares may rebound to Rs 190. However, the technical picture does not currently provide confirmation of a broader trend reversal.

Rebound potential, but no confirmed shift

The view presents two separate possibilities for Swiggy. The stock could move higher toward Rs 190, but that potential rebound should not be interpreted as evidence that its wider trend has changed.

Bhuva’s assessment is based on chart signals. According to the view, those charts do not yet indicate a trend reversal, leaving the direction of the broader trend unconfirmed.

What the outlook means

The distinction is important for interpreting the stock’s near-term prospects. A move toward the stated level may represent a rebound without establishing a sustained change in direction. The available assessment does not provide a confirmed trend reversal or any further target beyond Rs 190.

For now, the outlook combines possible upside with technical caution: Swiggy may recover toward Rs 190, while its charts remain insufficient to confirm a lasting change in trend.