SWIGGY LTD – Breakout & Retest Confirmation on Daily Chart

Note : This is only a chart analysis and for study purposes. Not a recommendation to buy or sell.

Chart Analysis Summary:
Breakout Zone:
The stock has clearly broken above a descending trendline that acted as resistance for several months. The breakout was supported by a strong bullish candle with notable volume, indicating genuine buying interest.

Volume:
The breakout candle shows a volume spike, validating the move. Volume continues to remain stable post-breakout, supporting the sustainability of the trend.

Retest Confirmation:
After the breakout, SWIGGY came back to retest the breakout zone (~345-350) and formed a bullish reversal, confirming the support zone.

Current Price Action:
Price is now moving higher again, suggesting the end of the retest phase and a potential beginning of a fresh uptrend.

EMA Analysis:
Price is trading above the 20/50/100/200 EMA cluster (currently near 339.25), which was earlier acting as a dynamic resistance and now may serve as support.

MACD:
MACD crossover above the signal line is visible and trending upward – a bullish momentum signal.