Technical Analysis Summary
- Current technical indicators (as of recent data in 2025) show mixed signals with strong sell bias in moving averages and momentum indicators but some oversold conditions that could trigger short-term rebounds.
- Relative Strength Index (RSI) is in oversold territory (~24.3), suggesting potential near-term buying interest.
- Volatility is high, implying active trading conditions, with technical indicators like MACD and CCI showing sell signals currently.
Support and Resistance Levels
| Timeframe | Support Levels (INR) | Resistance Levels (INR) |
|---|---|---|
| Short-term | 93, 94, 95 | 96, 97, 98 |
| Mid-term | 79.5, 78.5, 76.7 | 82.3, 84.1, 85.1 |
| Long-term | 90 (pivot), support zones near 70-75 expected in downturns | 100 to 108 (psychological and broker target range) |
Price Targets
| Timeframe | Price Target Range (INR) | Notes |
|---|---|---|
| Short-term | 96 – 98 | Resistance cluster, critical for rebound validation |
| Mid-term | 100 – 108 | Broker target zones, with Jefferies raising target to 100 and Kotak at 107 |
| Long-term | 110 – 123 | Max analyst price forecast near 123, contingent on sustained revenue growth and tariff improvements |
Broker Recommendations
| Broker | Recommendation | Target Price (INR) | Commentary |
|---|---|---|---|
| Jefferies | Buy | 100 | Raised EBITDA estimates by 3-7%, bullish on tariff hikes and expansion |
| Kotak Institutional | Buy | 107 | Positive on Q2FY26 results and growth outlook |
| Multiple Analysts | Mixed to Buy | 75 – 123 | Range reflects varied bullishness, average consensus bullish |
Key Financial Highlights Supporting Technical Outlook
- Q2 FY26 earnings beat expectations with non-aviation revenue growth targeted at 14-15% YoY.
- Structural growth potential in air travel, airport real estate, and aerotropolis projects.
- High capital intensity and regulatory risks remain but are factored into broker cautious optimism.
